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El Salvador’s Volcano Bond will get regulatory approval, targets Q1 launch



El Salvador’s long-anticipated Bitcoin bonds, also referred to as “Volcano Bonds” have obtained the regulatory nod, and are anticipated to launch early 2024.

The Volcano Bond was accepted by El Salvador’s Digital Belongings Fee and is anticipated to launch through the first quarter of 2024, based on a Dec. 11 assertion from The Nationwide Bitcoin Workplace (ONBTC) of El Salvador.

The nation’s pro-Bitcoin chief Nayib Bukele additionally seemingly confirmed the information in a publish of his personal, captioned: “Wen volcano bond.”

El Salvador first handed the landmark laws offering the authorized framework for the Bitcoin-backed bond on Jan. 11. The Volcano Bond is meant to pay down sovereign debt and fund the development of the nation’s proposed “Bitcoin Metropolis.”

The bond shall be issued on Bitfinex Securities Platform, The Bitcoin Workplace famous.

Bitcoin-friendly El Salvador can become ‘Singapore of the Americas’ — VanEck adviser

El Salvador lately launched a Bitcoin mining undertaking, price $1 billion, which can faucet into the nation’s volcanic sources by a partnership with Luxor Expertise.

This can be a creating story, and additional data shall be added because it turns into accessible.

Journal: What it’s actually like to use Bitcoin in El Salvador