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

Blockonomics
El Salvador's Volcano Bond gets regulatory approval, targets Q1 launch
Fiverr



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

The Volcano Bond was approved by El Salvador’s Digital Assets Commission and is anticipated to launch during the first quarter of 2024, according to a Dec. 11 statement from The National Bitcoin Office (ONBTC) of El Salvador.

The country’s pro-Bitcoin leader Nayib Bukele also seemingly confirmed the news in a post of his own, captioned: “Wen volcano bond.”

El Salvador first passed the landmark legislation providing the legal framework for the Bitcoin-backed bond on Jan. 11. The Volcano Bond is intended to pay down sovereign debt and fund the construction of the country’s proposed “Bitcoin City.”

bybit

El Salvador recently launched a Bitcoin mining project, worth $1 billion, which will tap into the country’s volcanic resources through a partnership with Luxor Technology.

This is a developing story, and further information will be added as it becomes available.





Source link

Fiverr

Be the first to comment

Leave a Reply

Your email address will not be published.


*