Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Blockchain

Bitfinex issues tokenized debt for El Salvador’s first hotel funded via blockchain

Published

on

bitfinex-issues-tokenized-debt-for-el-salvador’s-first-hotel-funded-via-blockchain

Bitfinex Securities is issuing a tokenized debt offering to fund the construction of a new Hampton by Hilton hotel at El Salvador International Airport, according to an April 11 statement shared with CryptoSlate.

The tokenized debt offering is the first of its kind in the Central American country, seeking to raise $6.25 million. The short-term debt has a 10% coupon over a 5-year term, and the minimum investment is $1000.

According to the statement, the hotel complex will be a 4,484-square-meter facility with 80 rooms, five commercial spaces, and other amenities across five levels.

Details
Bitfinex Securities partnered with Inversiones Laguardia (HILSV), an established entity in El Salvador, to oversee the tokenized debt.

Advertisement

Meanwhile, Ditobanx is responsible for tokenizing and structuring the transaction and ensuring that it is issued on the Liquid blockchain, a Bitcoin layer-2 solution. The token will trade under the HILSV ticker with two trading pairs, including the fiat US Dollar and Tether’s USDT stablecoin. Trading will occur exclusively on the Bitfinex Securities platform.

Paolo Ardoino, Bitfinex CTO and Tether CEO, said:

“The HILSV token marks the first digital asset tokenisation from El Salvador and represents an important step forward in developing its nascent capital market as well as introducing a major new asset class into the market.”

Notably, Hilton’s role in this arrangement is limited to that of a franchisor and does not entail direct involvement.

‘Economic benefit’
The initiative is expected to generate approximately 1,000 jobs during construction and up to 5,000 direct and indirect jobs during operational phases. The capital raise will commence on May 13, 2024, and is projected to last a month.

Advertisement

Meanwhile, several stakeholders in the deal believe that the deal presents an opportunity to develop El Salvador’s economy further.

Roberto Laguardia, the president of Inversiones Laguardia, explained:

“The recently implemented digital asset laws will grant us access to capital markets that were previously unavailable to us. This access will allow us to develop crucial tourism-related infrastructure, thereby unlocking the potential for growth in the tourism sector. This expansion will ultimately result in economic benefits for every Salvadoran citizen.”

Source: cryptoslate.com

The post Bitfinex issues tokenized debt for El Salvador’s first hotel funded via blockchain appeared first on HIPTHER Alerts.

Advertisement
Continue Reading
Advertisement

Blockchain

PropW Announces Gold Sponsorship at WOW Summit Thailand

Published

on

propw-announces-gold-sponsorship-at-wow-summit-thailand
Continue Reading

Blockchain

Eric Trump to Speak at Bitcoin’s largest conference in Abu Dhabi this December

Published

on

eric-trump-to-speak-at-bitcoin’s-largest-conference-in-abu-dhabi-this-december

The Bitcoin Conference has announced Eric Trump as a keynote speaker at its upcoming Bitcoin MENA event, to be held from December 9-10, 2024, at ADNEC Centre in Abu Dhabi. Eric Trump’s participation signals a significant milestone for Bitcoin MENA 2024 bringing a wealth of business acumen and leadership experience to the growing bitcoin adoption in the Middle East. 
Following Donald J. Trump’s appearance at Bitcoin 2024 in Nashville this July, The Trump family has shown increasing support for Bitcoin as a way to combat inflation in the U.S..
Eric Trump’s involvement underscores the conference’s growing influence and highlights Abu Dhabi’s emerging role as a central hub in the global Bitcoin economy. As a prominent figure in both business and politics, his insights are expected to resonate with the conference’s focus on Bitcoin’s role in shaping the future of finance in the region, and draw considerable attention from global media and influential business leaders. 
Other notable personalities confirmed to attend the Abu Dhabi edition include Prince Filip of Serbia, Saifedean Ammous, author of The Bitcoin Standard, and Abdulla Al Dhaheri, of the Blockchain Centre Abu Dhabi. This announcement is another step to further solidifying Abu Dhabi’s status as a leading player in the “New Gold Rush” for digital finance. 
With a wealth of energy resources, substantial financial reserves, and a forward-thinking approach to innovation, the UAE is strategically positioned to lead the next phase of global Bitcoin adoption. The UAE’s recent move to introduce zero VAT on Bitcoin gains, is one among many progressive rulings to position the region as a prime destination for Bitcoin innovators, investors, and businesses. With top global and regional voices set to ignite the Bitcoin community with breaking announcements, Bitcoin MENA will offer attendees unparalleled opportunities to network with industry leaders and explore technologies and innovations from across the Bitcoin ecosystem. From exclusive VIP experiences to dynamic expo halls, the event is set to be a defining moment for Bitcoin adoption in the Middle East.

The post Eric Trump to Speak at Bitcoin’s largest conference in Abu Dhabi this December appeared first on HIPTHER Alerts.

Continue Reading

Blockchain

Mauritius Financial Services Sector Report 2024: Competitive Environment, Local and International Influencing Factors, Industry Associations, Outlook, Industry Value Chain

Published

on

mauritius-financial-services-sector-report-2024:-competitive-environment,-local-and-international-influencing-factors,-industry-associations,-outlook,-industry-value-chain
Continue Reading
Advertisement
 title=
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE