Regulation
Bitfinex Parent Partners with El Salvador to Model Crypto Laws, Launches $6.25M Asset Business
iFinex, the parent company of Bitfinex, recently announced a groundbreaking partnership with the Salvadoran government aimed at shaping the regulatory landscape for cryptocurrencies in the country. Additionally, Bitfinex Securities has launched a project to issue token bonds for the construction of a new Hilton Hampton hotel at El Salvador International Airport with a fundraising target of $6.25 million.
Collaboration between iFinex and Elsalvador paves the way for digital financial instruments
The partnership between iFinex and the Salvadoran government heralds an important step in establishing a robust regulatory framework for digital assets and financial instruments in the region. Leveraging its extensive expertise in cryptocurrency exchange operations, iFinex is poised to play a pivotal role in advising El Salvador on regulatory matters and facilitating the issuance and trading of digital financial instruments.
The introduction to the firstVolcanic link,” secured by Bitcoin, highlights the innovative approach taken by both parties to harness the potential of digital assets for economic development. Paolo Ardoino, Chief Technology Officer of Bitfinex Securities, expressed his enthusiasm for the collaboration, highlighting its potential to open new avenues for capital raising and stock tokenization. El Salvador’s President Nayib Bukele echoed the sentiment, envisioning the partnership as a catalyst to position El Salvador as a global financial center.
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Bitfinex Securities Launches Token Bond Project for Hilton Hotel Construction
Bitfinex Securities, a leading securities trading platform, has embarked on a historic move token proposed bond issue to finance the construction of a Hampton by Hilton hotel at El Salvador International Airport. This initiative marks the first project undertaken by Bitfinex Securities El Salvador after obtaining a license under the Salvadoran Securities Law on digital assets. The project, comprising a five-story building with 80 rooms, commercial space and amenities, aims to stimulate economic growth and job creation in the region.
Detailed information regarding the fundraising phase, including a mobilization target of $6.25 million, an interest rate of 10% per annum and a minimum investment of $1,000, highlights the investment potential of the project. Investors participating in the project will benefit from exclusive benefits, including free hotel stays depending on the amount of their investment.
Paolo Ardoino and Jesse Knutson, representatives of Bitfinex Securities, expressed their pride in contributing to the development of El Salvador through this transformative project. Roberto Laguardia, president of Inversiones Laguardia, welcomed the alignment of the project with El Salvador economic objectives and its potential to catalyze tourism development. The issuance of HILSV tokenized bonds represents a continuation of Bitfinex’s successful efforts in the area of tokenized asset offerings, with further initiatives planned in the near future.
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