Bitfinex to raise over $6 million in tokenized securities for a new facade at the El Salvador International Airport.

With the rise of Bitcoin, El Salvador, the first country to adopt Bitcoin as legal tender, has been actively pursuing various construction projects. Bitfinex has announced the official launch of tokenized securities issuance, aiming to raise $6.25 million for the construction and development of a hotel and shopping mall complex at the El Salvador International Airport.

Bitfinex Raises $6.25 Million to Develop New Front in El Salvador

Bitfinex Securities El Salvador SA de CV, a subsidiary of Bitfinex, obtained the first digital asset service provider license issued by El Salvador in April last year. According to El Salvador's digital asset issuance law, Bitfinex will tokenize innovative real-world assets such as stocks and bonds and carry out issuance and secondary market trading.

With the rise of Bitcoin, El Salvador, the first country to adopt Bitcoin as legal tender, has been vigorously implementing various construction projects. Bitfinex announced the official launch of tokenized debt issuance to construct and develop a comprehensive facility at the El Salvador International Airport.

The construction project will develop a five-story facility covering 4,484 square meters, with 80 guest rooms, five commercial spaces, and other hotel facilities including a swimming pool, restaurant, gym, garden, and multipurpose hall. It is expected to create approximately 1,000 job opportunities during the construction phase and up to 5,000 direct and indirect job opportunities during the operational phase. The fundraising will begin on May 13, 2024, and is expected to last for a month.

The tokenized debt will be issued by Inversiones Laguardia SA de CV HILSV, a company active in El Salvador since 2017. The issuance aims to raise $6.25 million, offering a 10% face value interest rate over a 5-year term. The minimum investment amount is only $1,000, and hotel operators will provide investment incentives such as free hotel accommodation based on the investment scale.

The token will be issued under the code HILSV and will be traded with US dollars and Tether tokens. The HILSV token will be issued using Blockstream AMP on the Bitcoin sidechain Liquid Network.

Tether's Real-World Ecosystem RWE

Tether CEO Paolo Ardoino declared last October: "Tether's Real-World Ecosystem RWE is coming!"

Bitfinex Securities, a subsidiary of Tether, announced in October last year the listing of the first tokenized bond Alternative ALT2611, with USDT as the fundraising medium. It mainly assumes the debt and equity-related risks of microfinance companies, small financial institutions, leasing companies, banks, or credit cooperatives in Italy, Romania, Moldova, and emerging countries along the Silk Road, providing financing services to these micro, small, and medium-sized enterprises and entrepreneurs.

According to a press release, Alternative recently successfully raised $5.2 million in tokenized bonds from Bitfinex Securities AIFC in Kazakhstan. Bitfinex expects a large number of tokenized assets to enter the market in the first half of this year.

Bitfinex Securities lists the first tokenized bond, with USDT as the main fundraising medium.