Join the hunt for $12,000,000+ in NEXO Tokens!

Learn More

Bitfinex reveals tokenized hotel project at El Salvador airport

Tokenized debt to fund major hotel, boosting El Salvador's tourism and job market.

Bitfinex reveals tokenized hotel project at El Salvador airport

Share this article

Bitfinex entity in El Salvador has initiated a tokenized debt issuance to fund the construction of a new “Hampton by Hilton” hotel at El Salvador International Airport. The project, a first for Bitfinex Securities in El Salvador, will be facilitated under the nation’s Digital Asset Securities Law. The capital raise will commence on May 13, 2024, and is expected to span one month.

“The HILSV token marks the first digital asset tokenization from El Salvador and represents an important step forward in developing its nascent capital market as well as introducing a major new asset class into the market,” stated Paolo Ardoinio, CTO of Bitfinex Securities. “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.”

The hotel will span 4,484 square meters, featuring 80 rooms, commercial spaces, and amenities such as a pool and gym. Inversiones Laguardia S.A. de C.V. aims to raise $6.25 million with a 10% coupon over five years. The HILSV tokens, tradable against US dollars and Tether USD (USDT) stablecoin, will be issued on the Liquid Network.

“The recently implemented digital asset laws will grant us access to capital markets that were previously unavailable to us,” said Roberto Laguardia, president of Inversiones Laguardia. “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.”

The announcement shares Bitfinex’s expectations of generating around 1,000 jobs during the construction phase and up to 5,000 direct and indirect jobs during its operational phase.

Share this article