El Salvador will establish a regulator and a digital bond prospectus.
exchange of cryptocurrencies After the national congress approved a law in December allowing the issuance of the world’s first sovereign bond on a blockchain, Bitfinex expects El Salvador to issue its long-awaited “Volcano” token this year.
The Volcano token will be a bond issued through blockchain technology and traded on the Bitfinex exchange.
This year, Bitfinex will open an office in El Salvador.
Bitfinex CTO Paolo Ardoino believes there is enough demand for El Salvador to issue the full $1 billion.
According to him, El Salvador must now establish a digital securities regulator and prepare a prospectus for potential investors by the new law. “Now we’re on the right track so that everything happens more quickly,” he said.
The International Monetary Fund, rating agencies, and other organizations have criticized the use of bitcoin in the country alongside the dollar.