Bitfinex and tokenization of hotel construction in El Salvador
Date: 2024-04-12 Author: Oliver Abernathy Categories: BUSINESS
Bitfinex Securities is preparing to issue tokenized debt to finance the construction of the Hampton by Hilton hotel complex at the airport in El Salvador. The project will be the first of its kind for the country and promises to be an important step in the development of the digital asset market.
The Bitfinex Securities platform announced the launch of HILSV tokens, backed by obligations for the construction of a hotel. These tokens will be available on the Liquid Network Bitcoin sidechain and represent an innovative tool for investors.
The project's goal is to raise $6.25 million to finance construction. Investors purchasing tokens will receive annual dividends and return the principal amount at the end of the five-year period. The start of the project is scheduled for May 13, with a minimum entry amount of $1000.
Prospects and expectations
The company hopes to create a significant number of jobs both during the construction phase and during operation of the facility. The project is supported by initiatives of the government of El Salvador, which is actively seeking to integrate digital assets into the country's economy.
The Bitfinex Securities initiative in El Salvador demonstrates the growing interest in asset tokenization and the development of the cryptocurrency market in the region. Such projects can become an example for other countries and contribute to economic growth and innovation.
