Bitfinex Securities Unveils $6.25 Million Tokenized Debt Plan for Hotel Development in El Salvador
Bitfinex Securities announced earlier today plans to issue tokenized debt to finance the construction of a “Hampton by Hilton hotel complex at El Salvador International Airport.” The issuance seeks to raise a significant $6.25 million in funding to accelerate the development of the 4,484 square meter project.
Bitfinex Enters El Salvador’s Tourism Sector
Bitfinex Securities El Salvador SA de CV, a prominent player in tokenized securities, is leading the tokenized debt issue for the Hampton by Hilton project.
Leveraging blockchain technology and being an integral part of the Bitfinex ecosystem, Bitfinex Securities allows companies to raise capital by directly listing tokenized versions of stocks, bonds, and other financial instruments.
In particular, the tokenized debt issuance for the El Salvador Airport Hotel Complex represents a landmark moment in the El Salvador digital asset ecosystem.
Having secured its first regulated license under El Salvador’s Digital Asset Securities Act earlier this year, Bitfinex Securities can now tap into a market hungry for regulated investment opportunities, as reported.
According to the announcement, the tokens, which will be issued on Liquid Network, a Bitcoin sidechain, will allow investors to participate in the project and trade the tokens against the US dollar and Tether’s USDT stablecoin.
Moreover, tokenized debt issuance has the potential to stimulate economic growth and job creation in El Salvador beyond its financial implications.
The plan, which aims to create 1,000 jobs during the construction phase and up to 5,000 jobs when the complex is operational, highlights the impact crypto-based investments have on local communities, according to the announcement.
Roberto Laguardia, President of Inversiones Laguardia. famous:
The recently implemented Digital Assets Act will allow us access to capital markets that were previously unavailable to us. This access will allow us to develop important tourism-related infrastructure, which will enable us to realize the growth potential of the tourism sector. This expansion will ultimately bring economic benefits to all Salvadoran citizens.
El Salvador as a cryptocurrency hub country
Meanwhile, El Salvador continues to boast of being the cryptocurrency hub of the region. The country’s Ministry of Education has launched a plan to introduce cryptocurrency education as an integral part of the public school curriculum in collaboration with the non-profit organization “Mi Primer Bitcoin” (MPB), or “My First Bitcoin” in English. We successfully graduated our first students earlier this month.
I recently reviewed the latest one. #Bitcoin The training materials at https://t.co/WfOBElMJN9 are available in multiple languages, https://t.co/iizPUqRuJY are open source and free to use, and have successfully graduated from the 1000s.
A fantastic orange peeling tool that is efficient and comprehensive for most ages🤙
— Jimmy (@CriptoZorro) April 3, 2024
Featured image from Unsplash, chart from TradingVIEW
