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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.
BREAKING NEWS
The Volcano Bond has simply obtained regulatory approval from the Digital Belongings Fee (CNAD).
We anticipate the bond shall be issued through the first quarter of 2024.
That is only the start for brand spanking new capital markets on #Bitcoin in El Salvador.
— The Bitcoin Workplace (@bitcoinofficesv) December 12, 2023
The nation’s pro-Bitcoin chief Nayib Bukele additionally seemingly confirmed the information in a publish of his personal, captioned: “Wen volcano bond.”
Wen volcano bond?
— Nayib Bukele (@nayibbukele) December 12, 2023
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.
We discovered the Volcano Bonds. Will probably be accessible quickly!!! pic.twitter.com/cUxfhhoCRn
— Bitcoin Seaside (@Bitcoinbeach) December 12, 2023
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
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