Bitfinex Securities, a prominent tokenized securities platform, has made a groundbreaking announcement with the launch of a new tokenized debt issue. The purpose of this issuance is to fund the construction of a Hampton by Hilton hotel complex at El Salvador International Airport.
This initiative marks a significant milestone for Bitfinex Securities, as earlier this year, they became the first regulated entity in El Salvador to operate under the newly enacted Digital Asset Securities Law. The project, in partnership with local firm Inversiones Laguardia SA de CV, represents the country’s first tokenized debt issue.
The tokenized debt, represented by the HILSV token, will be available on the Liquid Network—a Bitcoin sidechain—and can be traded against US dollars and Tether’s USDT stablecoin. Paolo Ardoinio, CTO of Bitfinex Securities, highlighted the importance of this issuance in revolutionizing El Salvador’s capital market and introducing a new asset class.
The offering aims to raise $6.25 million, with investors receiving a 10% annual coupon over a five-year term. The funds raised will support the construction of a 4,484-square-meter hotel facility, which is expected to create a significant number of jobs during both the construction and operational phases.
Roberto Laguardia, President of Inversiones Laguardia, expressed optimism about the impact of this venture on local economic growth, citing the access to previously unavailable capital markets and the potential for growth in the tourism sector.
This tokenized debt issue not only showcases El Salvador’s innovative approach to financing major infrastructure projects but also highlights the increasing integration of digital assets in mainstream financial markets. Bitfinex’s recent introduction of perpetual futures tracking price changes in Bitcoin and Ethereum further solidifies their position as a key player in the digital asset space.
