Bitfinex Securities El Salvador S.A. has issued a statement on a security token, or digital security, offering to help finance the Hampton by Hilton Hotel in El Salvador. The project expects to create 1000 jobs during construction and, eventually, 5000 direct and indirect jobs upon completion. The hotel is located next to the airport.
Bitfinex is the first platform to be licensed under El Salvador’s digital securities law. The securities offering, a debt offering, will be offered and traded on the Bitifinex platform.
The digital security is expected to be issued by Inversiones Laguardia S.A. de C.V. (HILSV) and aims to raise USD$ 6.25 million. The debt offers a 10% coupon over a 5-year term. To participate, investors must commit a minimum investment of USD$ 1,000.
Paolo Ardoino, CTO of Bitfinex Securities, said the token offering represents an important step forward in developing the capital market in El Salvador.
“For the first time, investors who do not usually have the opportunity to invest in such assets have the opportunity to do so, while issuers in markets which have less access to capital, are able to tap into a new asset class to raise finance.”
Roberto Laguardia, president of Inversiones Laguardia, said the new digital securities law will provide access to capital markets that were previously not available.
“This access will allow us to develop crucial tourism-related infrastructure, thereby unlocking the potential for growth in the tourism sector. This expansion will ultimately result in economic benefits for every Salvadoran citizen.”
Bitfinex Securities has enabled other digital securities and claims to have a “significant pipeline of tokenized assets to come to the market in the first half of the year.”
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