Sokipiriye Dokubo
Renowned for its Bitcoin adoption, El Salvador unveils a tokenized hotel project in collaboration with Bitfinex. This innovative venture will be fueled by a tokenized debt fund, aimed at bolstering tourism and job opportunities in close proximity to the prominent El Salvador International Airport.
The inaugural Bitfinex securities endeavor in El Salvador, the Hampton by Hilton project, marks a significant milestone. It will commence development under the country’s Digital Asset Securities Laws, with capital raising scheduled to conclude on May 13th, 2024. The token will be issued on the Liquid network, a Bitcoin side chain.
El Salvador and Bitfinex Introduce First Tokenized Debt Fund for Hotel Project
El Salvador’s steadfast dedication to Bitcoin has elevated its global standing in recent years. Embracing the digital asset, the nation has actively integrated BTC into its operations.
Now, El Salvador unveils a groundbreaking tokenized hotel project through Bitfinex. The country’s first registered and licensed digital asset provider will introduce a tokenized debt model to support the construction of a Hampton by Hilton hotel near the international airport.
Traded under the HILSV ticker against the US dollar and Tether (USDT), the token will operate on the Liquid Network, as reported by Coindesk. This initiative underscores the growing trend of tokenization, offering innovative avenues for project funding.
Debt tokenization, converting traditional debt instruments like bonds or loans into digital tokens on blockchains, revolutionizes project financing. It solidifies El Salvador’s commitment to a digital financial future.
Having embraced Bitcoin as legal tender in 2021, El Salvador continues to expand its BTC holdings. This latest tokenization project signifies a bold step towards digital asset development, aiming to raise $6.25 million with a 10% coupon over the next five years.