Bitfinex Unveils $6.25M Tokenized Debt for El Salvador Hotel

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Bitfinex Securities El Salvador is issuing a tokenized bond to construct a 4,484-square-foot Hampton by Hilton hotel near El Salvador International Airport.

For the first time in El Salvador’s history, and as a groundbreaking achievement for Bitfinex Securities, the process of tokenizing real-world assets commences, marking the dawn of a substantial new sector.

— Paolo Ardoino 🍐 (@paoloardoino) April 11, 2024

After being the initial licensed entity in El Salvador’s Digital Asset Securities Law in January, they are working to fulfill the increased need for regulated investment opportunities since the US introduced its Bitcoin ETF.

Paolo Ardoino, Bitfinex Securities’ CTO, stated that the HILSV token signifies El Salvador’s initial digital asset tokenization and is a significant advancement in growing its emerging capital market, as well as introducing a new major asset class into the market.

Starting today, the platform will facilitate trades of Inversiones Laguardia S.A. de C.V.’s tokenized debt, now open for customer applications, on the Liquid Network under the symbol HILSV. Traders can conduct transactions against both USD and USDT stablecoins.

Paolo Ardoino, the Chief Technology Officer at Bitfinex Securities, emphasized the importance of this action. It expands investment possibilities and makes it easier for markets with limited choices to secure funding.

This fundraising initiative intends to collect $6.25 million, providing a 10% annual coupon over a five-year period. Starting on May 13, investors can join with a minimum investment of $1,000. During construction, it is projected to generate around 1,000 jobs, while operation of the complex may lead to up to 5,000 additional employment opportunities.

Roberto Laguardia, president of Investments Laguardia, highlighted how digital asset regulations can open up capital markets and significantly contribute to building essential tourism infrastructure in developing areas.

Bitfinex Securities’ influence in the digital asset market is growing, as shown by a successful tokenized bond sale in Kazakhstan. Clients can participate in all these offerings by getting verified through both Kazakhstani and Salvadoran organizations.

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2024-04-12 07:00