- Bitfinex Securities, the first licenced digital asset provider in El Salvador, is launching its inaugural tokenised asset raise on the Bitcoin layer 2 Liquid Network to fund a new Hilton hotel complex at El Salvador International Airport.
- On the Liquid Network, a bitcoin sidechain that facilitates quicker and more scalable transactions, the tokenised debt offering, or HILSV, will be launched.
- The announcement shares Bitfinex’s expectations of generating around 1,000 jobs during the construction phase and up to 5,000 direct and indirect jobs during its operational phase.
Bitfinex Securities, the first licenced supplier of digital assets in El Salvador, is leading the country’s first tokenised asset raising by using the layer 2 Liquid Network of Bitcoin. In collaboration with Inversiones Laguardia S.A. de C.V., Bitfinex Securities plans to use a tokenised debt offering to fund the building of a new Hilton hotel complex at El Salvador International Airport.
Liquid network’s tokenised debt offering
The tokenised debt offering, or HILSV, will be introduced on the Liquid Network, a bitcoin sidechain that enables speedier and more scalable transactions. Investors will have the opportunity to support the hotel project’s fundraising efforts as HILSV is traded about the US dollar and tether (USDT).
El Salvador International Airport’s Hilton Hotel complex
Funds from the tokenised debt issuance will be used to build a Hampton by Hilton hotel complex at El Salvador International Airport. The proposed building would span 4,484 square meters over five stories and house 80 rooms, shops, a swimming pool, and restaurants. Hilton Hotels is not connected to or accountable for the product; rather, it is taking part in the market as a franchisor.
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Advantages for El Salvador’s development of the capital market
A significant turning point in the development of El Salvador’s capital market is represented by this creative program. By utilising blockchain technology and tokenisation, Bitfinex Securities and Inversiones Laguardia are introducing a new asset class to the market. Investors who might not otherwise have access to such assets can participate in the tokenised debt offering, providing issuers in regions with limited capital availability with a fresh source of funding.
“The HILSV token marks the first digital asset tokenisation from El Salvador and represents an important step forward in developing its nascent capital market as well as introducing a major new asset class into the market,” stated Paolo Ardoinio, CTO of Bitfinex Securities.
The construction of the Hilton hotel complex is expected to bring El Salvador significant economic opportunities. Up to 5,000 direct and indirect jobs are anticipated to be created by the hotel complex once it opens, and an additional 1,000 jobs are anticipated to be created during the construction phase. This will support the growth of the tourism sector and bolster El Salvador’s economy as a whole.
