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

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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.

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.

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.

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Merging Traditions with Fintech and Blockchain Innovations

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Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations at MARE BALTICUM Gaming & TECH Summit

The financial industry is undergoing a seismic shift as fintech and blockchain technologies pave the way for unprecedented innovation and transformation. At the upcoming MARE BALTICUM Gaming & TECH Summit, a high-profile panel titled “Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations” will delve deep into this exciting evolution. This session will explore how established financial institutions are integrating these advanced technologies to revolutionize services, enhance security, and increase efficiency.

Moderator: Anna Agu

Leading the panel is Anna Agu, CEO and Managing Partner at Lex Law Office OU and Director at Lex Law Office LT UAB. With her extensive legal expertise in the fintech sector, Agu is perfectly positioned to guide the discussion, ensuring a thorough exploration of the delicate balance between maintaining traditional financial principles and embracing innovative technologies.

Panelists:

  • Merit Leib – Compliance Consultant at LEIB Regulatory & Compliance Risk Consulting
  • Astra Tikas – Founding Board Member of INO (Internet Native Organization)
  • Dr. Dean Rakic – Chief Scientist at Blockcontrol
  • Saulius Racevicius – Senior Associate of PSP Lab LLP and Board Member of the Fintech Hub LT
  • Evaldas Krampas – CEO at SpectroCoin and Head of Crypto Hub Lithuania

Why Attend?

The “Financial Evolution: Merging Traditions with Fintech and Blockchain Innovations” panel at the MARE BALTICUM Gaming & TECH Summit is a must-attend for professionals across the financial sector. Here’s why:

  1. Gain Comprehensive Insights: Learn from top experts about the latest trends, challenges, and opportunities in fintech and blockchain.
  2. Regulatory Perspectives: Understand the importance of compliance and how to navigate regulatory challenges effectively.
  3. Technical Knowledge: Dive deep into the technical aspects of blockchain integration and learn about cutting-edge developments.
  4. Practical Implementation: Gain practical insights into how traditional financial institutions are successfully integrating new technologies.
  5. Networking Opportunities: Connect with industry leaders and peers who are driving innovation in finance.

Join Us

This panel provides a unique opportunity to stay ahead of the curve in the rapidly evolving financial landscape. Join us at the MARE BALTICUM Gaming & TECH Summit to explore how fintech and blockchain technologies are reshaping finance and what it means for the future. Engage with industry leaders, gain actionable insights, and network with peers at the forefront of financial innovation.

Secure your spot today and be part of this transformational journey. Don’t miss the chance to be involved in discussions that will shape the future of finance. See you at the MARE BALTICUM Gaming & TECH Summit!

The post Merging Traditions with Fintech and Blockchain Innovations appeared first on HIPTHER Alerts.

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North America B2C E-Commerce Market & Payment Innovation Trends Report 2024 – By 2025, Digital Wallets are Expected to Make Up Over a Quarter of Canada’s Online Payments

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BOX-GameFi Innovation in Entertainment: Integration of Blockchain Technology and Monopoly

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