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El Salvador Bitcoin Bond Issuance Coming as Soon as March 15: Finance Minister
In a TV appearance, Alejandro Zelaya also confirmed that the coupon for the paper will be 6.5%.
El Salvador’s initial $1 billion bitcoin bond issue will take place between March 15 and March 20, Finance Minister Alejandro Zelaya said Tuesday.
- Speaking on Salvadoran TV show "Frente a Frente", Zelaya said the bond will be launched on Liquid, a bitcoin-based service created by Blockstream, and come with a 6.5% coupon.
- The use of Liquid, said Zelaya, will allow investors to take part in the deal with as little as $100. "Bonds will comply with all financial market regulations,” he added. “All [know-your-customer] requirements will be met, all due diligence will be done.”
- Samson Mow, chief strategy officer of Blockstream, told CoinDesk in December the bond already had $300 million worth of soft commitments.
- When announcing the bitcoin bond in November, El Salvador President Nayib Bukele said half of the $1 billion raised would be used to help construct needed energy and bitcoin mining infrastructure, and the rest used to add to the country’s holdings of the crypto.
STORY CONTINUES BELOW
Andrés Engler
Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He follows the regional scene of startups, funds and corporations. His work has been featured in La Nación newspaper and Monocle magazine, among other media. He graduated from the Catholic University of Argentina. He holds BTC.
