El Salvador's Volcano Bitcoin bonds have just received the green light from the Digital Assets Commission (CNAD), the local regulator responsible for oversight of the digital assets ecosystem within the country.

These bonds, supported by the nation's Bitcoin mining industry that harnesses renewable volcanic energy, aim to raise $1 billion from investors.

This fund will be pivotal in constructing the much-anticipated

"Bitcoin City."

El Salvador has finalized preparations to issue the bonds in the first quarter 2024.