Bitfinex CTO, Paolo Ardoino, has announced that El Salvador's much-anticipated Bitcoin bonds will launch this summer. The Central American nation made history last year when it became the first country to adopt Bitcoin as legal tender, and the issuance of Bitcoin bonds is seen as a major step towards the country's goal of leveraging Bitcoin to boost economic growth.
Ardoino made the announcement via Twitter, stating that Bitfinex will be handling the technical aspects of the bond issuance. The bonds will be issued using the Liquid Network, a sidechain developed by Blockstream, which enables faster and more confidential transactions than the main Bitcoin network.
El Salvador's Bitcoin bonds are expected to be issued in multiple tranches, with the proceeds being used to fund various infrastructure projects throughout the country. The bonds will be denominated in US dollars, but investors will be able to purchase them using Bitcoin, providing another avenue for the country to leverage its Bitcoin holdings.
The announcement of the launch of Bitcoin bonds is likely to further boost the profile of El Salvador as a hub for Bitcoin and cryptocurrency innovation. The country has already attracted a number of Bitcoin businesses, and the government has made a number of moves to encourage the adoption of cryptocurrency, including offering citizenship to anyone who invests three Bitcoin in the country.
Overall, the launch of El Salvador's Bitcoin bonds is a significant development for both the country and the wider cryptocurrency industry. It remains to be seen how successful the issuance will be, but it is clear that the country is making significant strides towards realizing its vision of a Bitcoin-based economy.