El Salvador has received regulatory approval for its long-awaited Bitcoin bonds, also known as “Volcano Bonds.” The bonds are expected to launch in early 2024, according to the National Bitcoin Office of El Salvador. The approval was granted by the Digital Assets Commission. The country’s pro-Bitcoin leader, Nayib Bukele, also confirmed the news on social media.
The Volcano Bonds were made possible by landmark legislation passed in January, which provided the legal framework for the Bitcoin-backed bond. The bonds are intended to pay down sovereign debt and fund the construction of El Salvador’s proposed “Bitcoin City.” The country has recently launched a $1 billion Bitcoin mining project in partnership with Luxor Technology, utilizing its volcanic resources.
This development marks the beginning of new capital markets for Bitcoin in El Salvador. The Volcano Bonds will soon be available, offering investors an opportunity to participate in the country’s Bitcoin initiatives. Further information will be provided as it becomes available.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | 🇸🇻 |
| Sentiment | very positive |
| Relevance Score | 1 |
| People | Nayib Bukele |
| Companies | Digital Assets Commission, National Bitcoin Office, Luxor Technology, Bitcoin Beach, Bitcoin Office |
| Currencies | Bitcoin |
| Securities | None |
