Jai Sahu
1. The issuance seeks to gather $6.25 million, providing a 10% coupon over a 5-year period.
2. Inversiones Laguardia S.A. de C.V. will issue the tokenized debt.
Bitfinex Securities, El Salvador’s primary digital asset provider, has declared the initiation of a tokenized debt offering. This offering seeks to gather $6.25 million and provides a 10% coupon over a span of 5 years. The debt will be issued by Inversiones Laguardia S.A. de C.V.
The tokenized debt, represented by the symbol HILSV, will fund the development of a Hampton by Hilton hotel complex at the country’s international airport. HILSV will be traded against the U.S. dollar and tether (USDT) on the Liquid Network, a bitcoin sidechain.
The trend of tokenization is gaining momentum, with new offerings emerging regularly. Debt tokenization involves converting traditional debt instruments like bonds or loans into digital tokens on blockchains.
El Salvador made headlines in 2021 by becoming the first country to adopt bitcoin as legal tender. Since then, it has been actively increasing its bitcoin holdings.
The minimum investment for this offering is $1,000. The construction project for the hotel complex spans 4,484 square meters across five levels, featuring 80 rooms, a swimming pool, restaurants, and commercial spaces. It’s important to note that Hilton Hotels, while not endorsing any offering, serves solely as a franchisor and bears no responsibility, as stated in the press release.
Bitfinex Securities entered the El Salvadoran market in early 2024 as the country’s inaugural registered and licensed digital assets service provider.