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El Salvador's Bitcoin Bonds are expected to launch in early 2024. The Bitcoin bond, also known as Volcano Bond, was approved by El Salvador's digital assets commission and is anticipated to launch during the first quarter of 2024.
El Salvador’s Bitcoin bond is a Bitcoin-backed bond that aims to boost foreign and domestic investments. It is dubbed the “Volcano Bond” after the country’s Bitcoin City, which will be powered by hydrothermal energy from nearby Conchagua volcano as a renewable crypto-mining center. The bond will be used to pay down sovereign debt, fund the construction of the Bitcoin City, and create Bitcoin mining infrastructure.
ONBTC, The National Bitcoin Office, said the bond will be issued on Bitfinex Securities platform, a trading site for blockchain-based equities and bonds that is registered in El Salvador.
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