Bitfinex Securities Launches Tokenized Debt Offering for Hilton Hotel Development in El Salvador Using Blockchain Technology
Bitfinex Securities, the first registered and licensed digital asset provider in El Salvador, has announced the launch of a tokenized debt offering to finance the construction and development of a Hampton by Hilton hotel complex near the country’s international airport.
This initiative marks a significant milestone in the use of blockchain technology for financing major infrastructure projects in El Salvador, a pioneering country in the adoption of Bitcoin as legal tender in 2021.
Bitfinex Securities in El Salvador
The launch of Bitfinex Securities was announced earlier this year, making it the first registered and licensed digital asset service provider in El Salvador.
Features of the Tokenized Debt Offering
The token, known as HILSV, will be issued on the Liquid Network, a Bitcoin sidechain, providing a new avenue for investors and traders through debt tokenization.
This method transforms traditional debt instruments, such as bonds or loans, into digital tokens on blockchains, facilitating their exchange and management. The offering aims to raise $6.25 million, offering a 10% coupon over a five-year period, with a minimum investment set at $1,000.
The Construction Project
The planned project will span 4,484 square meters across five levels and will include 80 rooms, a swimming pool, restaurants, and commercial spaces. Although the project bears the Hilton name, the brand has not endorsed the offering. Hilton Hotels only positions itself as the franchisor and insists that it has no responsibility associated with this tokenized debt offering.
