Bitcoin-backed Volcano Bonds secure regulatory approval in El Salvador

El Salvador’s Digital Assets Commission has granted regulatory approval to Volcano Bonds, the world’s first-ever Bitcoin-backed bonds. 
Dot
March 8, 2024
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

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Photo Source: Kanchanara (Unsplash)

El Salvador’s Digital Assets Commission has granted regulatory approval to Volcano Bonds, the world’s first-ever Bitcoin-backed bonds.

As per the tweet by the National Bitcoin Office (ONBTC), the Volcano Bonds will be offered by the securities platform owned by Bitfinex. The bonds are currently scheduled for issuance in the first quarter of 2024.

The Volcano Bonds were unveiled 21 months ago in 2021, when President Nayib Bukele announced his plans to make Bitcoin a legal tender in the nation. He had envisioned that the proceeds from the Volcano Bonds would help repay foreign debt.



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Likewise, the funds from the sale of Volcano Bonds were intended to be used to finance the construction of Bitcoin City, which, in turn, would harness the geothermal energy from the Conchagua Volcano for large-scale Bitcoin mining farms.  

Meanwhile, Bitcoin has continued the uptrend in its pricing, having surpassed the $40,000 resistance last week. BTC is currently priced at $41.9K, with analysts expecting the token to cross the $45,000 threshold by the end of 2023.

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Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn

Bitcoin-backed Volcano Bonds secure regulatory approval in El Salvador

HomeBitcoin
Contents
Photo Source: Kanchanara (Unsplash)

El Salvador’s Digital Assets Commission has granted regulatory approval to Volcano Bonds, the world’s first-ever Bitcoin-backed bonds.

As per the tweet by the National Bitcoin Office (ONBTC), the Volcano Bonds will be offered by the securities platform owned by Bitfinex. The bonds are currently scheduled for issuance in the first quarter of 2024.

The Volcano Bonds were unveiled 21 months ago in 2021, when President Nayib Bukele announced his plans to make Bitcoin a legal tender in the nation. He had envisioned that the proceeds from the Volcano Bonds would help repay foreign debt.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Likewise, the funds from the sale of Volcano Bonds were intended to be used to finance the construction of Bitcoin City, which, in turn, would harness the geothermal energy from the Conchagua Volcano for large-scale Bitcoin mining farms.  

Meanwhile, Bitcoin has continued the uptrend in its pricing, having surpassed the $40,000 resistance last week. BTC is currently priced at $41.9K, with analysts expecting the token to cross the $45,000 threshold by the end of 2023.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

El Salvador’s Digital Assets Commission has granted regulatory approval to Volcano Bonds, the world’s first-ever Bitcoin-backed bonds.

As per the tweet by the National Bitcoin Office (ONBTC), the Volcano Bonds will be offered by the securities platform owned by Bitfinex. The bonds are currently scheduled for issuance in the first quarter of 2024.

The Volcano Bonds were unveiled 21 months ago in 2021, when President Nayib Bukele announced his plans to make Bitcoin a legal tender in the nation. He had envisioned that the proceeds from the Volcano Bonds would help repay foreign debt.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Likewise, the funds from the sale of Volcano Bonds were intended to be used to finance the construction of Bitcoin City, which, in turn, would harness the geothermal energy from the Conchagua Volcano for large-scale Bitcoin mining farms.  

Meanwhile, Bitcoin has continued the uptrend in its pricing, having surpassed the $40,000 resistance last week. BTC is currently priced at $41.9K, with analysts expecting the token to cross the $45,000 threshold by the end of 2023.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande