Tokenized securities platform Bitfinex Securities El Salvador SA de CV is launching a tokenized debt offering to develop a 4,484 square meter Hampton by Hilton resort at El Salvador International Airport.
In January, Bitfinex Securities became the first regulated entity to receive a license to operate in El Salvador under the country’s new digital asset securities law – anticipating strong demand for such regulated investment vehicles following the launch successful Bitcoin spot exchange traded funds in the United States.
At the time, the tokenized securities platform said it was accepting customer requests and had established a pipeline of potential financial asset issuances expected to hit the market in the first half of this year.
This symbolic debt, issued by Salvadoran company Inversiones Laguardia SA de CV, is now set to become the first to be traded on the platform. The token will be issued on Liquid Network, a Bitcoin sidechain, under the ticker HILSV, and exchanged for US dollars and Tether’s USDT stablecoin.
“The HILSV token marks El Salvador’s first digital asset tokenization and represents an important milestone in the development of its nascent capital market as well as the introduction of a major new asset class to the market,” said Paolo Ardoinio, CTO of Bitfinex Securities, in a statement shared with The Block.
“For the first time, investors who typically do not have the ability to invest in such assets have the opportunity to do so, while issuers in markets that have less access to capital can tap into a new class of active in raising funds.” Ardoinio added.
Seeking to raise $6.25 million
The issue aims to raise $6.25 million, offering a 10% coupon over a five-year term, meaning buyers receive an annual interest payment equal to 10% of their investment over five years, after which the capital is returned. Fundraising will begin on May 13, with a minimum investment of $1,000.
The initiative also hopes to generate 1,000 jobs during the construction phase and up to 5,000 complex-related jobs during its operation.
“The recently implemented digital asset laws will give us access to capital markets that were previously inaccessible to us,” said Inversiones Laguardia President Roberto Laguardia. “This access will allow us to develop critical tourism-related infrastructure, unlocking the growth potential of the tourism sector.”
HILSV follows a token bond offering from Alternative through Bitfinex Securities AIFC in Kazakhstan in November. Bitfinex Securities announced that this first tokenized bond on the liquid network raised over $5.2 million in USDT. Customers wishing to access all Bitfinex Securities issuances must be verified with its Kazakhstan and El Salvador entities.
El Salvador made headlines in 2021 by making Bitcoin legal tender. The country also launched an “Adopt El Salvador Freedom Visa” program in collaboration with stablecoin issuer Tether in December. Under this program, investors apply for the Freedom Visa by investing $1 million in Bitcoin or USDT.
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