Bitfinex Securities announced plans today for a token sale worth approximately $6.25 million to finance the building of a Hampton by Hilton hotel at El Salvador International Airport. This 4,484-square-meter project will be developed using the funds raised through this tokenized debt issue.
Bitfinex Ventures Into El Salvador’s Tourism Sector
Bitfinex Securities El Salvador S.A. de C.V., an influential figure in the tokenized securities industry, takes the lead in creating a tokenized debt offering for the Hampton by Hilton project.
Using blockchain technology as a fundamental component of Bitfinex’s platform, Bitfinex Securities allows companies to issue and sell tokenized forms of their shares, bonds, and other financial assets directly to investors.
Significantly, the creation of digitally representated debt for the El Salvador airport hotel project marks an historic milestone in the nation’s digital asset sector.
After obtaining the initial licensed regulation under El Salvador’s Digital Asset Securities Law earlier this year, Bitfinex Securities is now able to serve a market with a strong demand for regulated investment options, according to reports.
Based on the announcement, investors will have the opportunity to take part in this project using a token that will be available on the Liquid Network, which is a sidechain of Bitcoin. They can then trade this token for US dollars and USDT (Tether’s stablecoin) on the network.
In addition, tokenized debt offerings in El Salvador could lead to more than just monetary benefits. They might also stimulate economic expansion and generate employment opportunities.
The announcement states that this project aims to create 1,000 jobs during construction and up to 5,000 jobs once operational. This demonstrates the significant influence of cryptocurrency investments on local economies.
Roberto Laguardia, president of Inversiones Laguardia, noted:
New digital asset regulations recently passed give us a chance to tap into capital markets that were out of reach before. Using this access, we can build essential tourism infrastructure and stimulate growth in that industry. In turn, this development brings economic advantages for each and every Salvadoran resident.
El Salvador As A Crypto Hub Nation
In the meantime, El Salvador takes pride in being a leading cryptocurrency nation in the region. The country’s Ministry of Education, along with the nonprofit organization “Mi Primer Bitcoin” (MPB), have teamed up to integrate crypto education into the public school system. They recently completed their first class of students.
I’ve gone over the most recent bitcoin educational resources offered by for free in various languages, which have effectively helped thousands of people graduate.
Fantastic orange pilling tool, efficient and all inclusive for most ages
— Jimi (@CriptoZorro) April 3, 2024
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2024-04-11 22:11