iFinex to Support El Salvador’s Crypto Regulations

iFinex, the parent company of cryptocurrency exchange Bitfinex, has joined forces with the government of El Salvador. This partnership aims to develop comprehensive regulations for cryptocurrencies and digital financial instruments in the region. iFinex brings its deep experience in cryptocurrency exchange to assist El Salvador in establishing a conducive regulatory environment. This collaboration is expected to facilitate new methods for issuing and trading digital financial assets.

A key innovation arising from this collaboration is the launch of the world’s first “Volcano Bond,” backed by Bitcoin. This venture reflects a shared commitment to leveraging digital assets to boost economic growth. iFinex’s Chief Technology Officer, Paolo Ardoino, and El Salvador’s President, Nayib Bukele, have both highlighted the potential of this partnership to transform El Salvador into a key player in the global financial arena.

Bitfinex Securities Launches Token Bond for New Hilton Hotel at El Salvador Airport

Further expanding its operations in El Salvador, Bitfinex Securities has started a token bond issuance to fund the construction of a new Hampton by Hilton hotel at El Salvador International Airport. This marks the first major project by Bitfinex Securities in the country, following its recent approval under the Digital Asset Securities Act. The project includes an 80-room hotel complete with commercial spaces and various amenities, aimed at driving economic development and job creation in the area.

The bond issuance seeks to raise $6.25 million, offering an annual interest rate of 10%, with investment opportunities starting at $1,000. Investors will benefit from perks such as complimentary hotel stays, proportionate to their investment levels. Representatives from Bitfinex Securities, including Paolo Ardoino and Jesse Knutson, have expressed their commitment to supporting El Salvador’s economic growth through this venture. Roberto Laguardia, president of Inversiones Laguardia, praised the project’s alignment with national economic goals and its expected boost to the tourism sector. This initiative is part of Bitfinex’s ongoing efforts to pioneer in the field of tokenized assets, promising more such projects in the future.

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