Bitfinex Issues $6.25M Tokenized Bond for El Salvador Hotel via Liquid Network

Bitfinex Issues $6.25M Tokenized Bond for El Salvador Hotel via Liquid Network

Update 03/14/2023: Contrary to the initial reporting, the Hilton hotel in El Salvador was not funded by the tokenized bond issued by Bitfinex. The tokenized bond was used for a different project and the hotel was funded through other financing channels. Bitfinex Securities, the tokenized securities trading platform of cryptocurrency exchange Bitfinex, has issued $6.25 million in tokenized bonds to fund the construction of a Hilton hotel near El Salvador's San Salvador Airport. The bond issuance is a significant step forward for the adoption of tokenized securities and demonstrates the growing interest in using blockchain technology to fund real-world projects. The tokenized bond was issued on the Liquid Network, a Bitcoin sidechain protocol from Blockstream. The Hilton hotel, which is already under construction near the San Salvador Airport, is a five-story building with 80 rooms, business spaces, and other amenities, and is scheduled to be completed within 12 months. The tokenized bond offers an annual interest rate of 10% and is available for investment with a minimum investment amount of $1,000. The bond has a maturity date of March 14, 2025. The issuance of the tokenized bond is a significant milestone for Bitfinex Securities and for the tokenized securities market as a whole. It demonstrates the growing interest in using blockchain technology to fund real-world projects and the potential for tokenized securities to become a mainstream investment vehicle.