El Salvador's Volcano Bond gets regulatory approval, targets Q1 launch
The Volcano Bond was approved by the country’s Digital Assets Commission on Dec. 11, with issuance expected in Q1, 2024.
El Salvador’s long-anticipated Bitcoin bonds, also known as “Volcano Bonds” have received the regulatory nod, and are expected to launch early 2024.
The Volcano Bond was approved by El Salvador’s Digital Assets Commission and is anticipated to launch during the first quarter of 2024, according to a Dec. 11 statement from The National Bitcoin Office (ONBTC) of El Salvador.
BREAKING NEWS
The Volcano Bond has just received regulatory approval from the Digital Assets Commission (CNAD).
We anticipate the bond will be issued during the first quarter of 2024.
This is just the beginning for new capital markets on #Bitcoin in El Salvador.
— The Bitcoin Office (@bitcoinofficesv) December 12, 2023
The country’s pro-Bitcoin leader Nayib Bukele also seemingly confirmed the news in a post of his own, captioned: “Wen volcano bond.”
Wen volcano bond?
— Nayib Bukele (@nayibbukele) December 12, 2023
El Salvador first passed the landmark legislation providing the legal framework for the Bitcoin-backed bond on Jan. 11. The Volcano Bond is intended to pay down sovereign debt and fund the construction of the country’s proposed “Bitcoin City.”
El Salvador recently launched a Bitcoin mining project, worth $1 billion, which will tap into the country’s volcanic resources through a partnership with Luxor Technology.
We found the Volcano Bonds. Will be available soon!!! pic.twitter.com/cUxfhhoCRn
— Bitcoin Beach (@Bitcoinbeach) December 12, 2023
This is a developing story, and further information will be added as it becomes available.
