đ„đ„đ„Bitcoin bonds are finally coming to El Salvador: Approval is out
Bitcoin bonds, which El Salvador plans to issue in March 2022, are preparing to enter the market with a delay of about 2 years. Approval has been received from the country's Digital Asset Commission for these assets in the "Volcano bonds".
El Salvador, which made history by declaring Bitcoin an official currency in 2021, is about to take another important step... the government in the Latin American country has received approval from the Digital Asset Commission to issue the long-delayed âVolcano bondsâ.
According to a statement from the National Bitcoin Office, approval was granted on December 11 and the bonds are expected to be issued by the first quarter of 2024.
Nayib Bukele, who recently resigned from the presidency for election work and is running again for a new term, also said, âAre volcano bonds coming? he posted a tweet in which he said, ".
Paying paid foreign debts and paying the expenses of the âBitcoin Cityâ project announced in 2021, El Salvador aims to use the income from the Volcano bonds. bonds with a 10-year maturity will have an annual interest yield of 6.5%.
The bonds, abbreviated as ONBTC, will be issued on the securities platform of the Bitfinex exchange. Tether, which is Bitfinex and its sister company, also has many collaborations with the government of El Salvador on Bitcoin projects.
Bitcoin mining is also carried out in El Salvador with energy obtained from volcanic sources.
