iFinex, the parent company of the Bitfinex exchange, has announced a strategic partnership with the Government of El Salvador, marking a significant milestone in the regulation of digital assets in the country. The aim of this collaboration is to establish a comprehensive legal framework for digital assets and securities, providing clarity and stability in the market.
The partnership will pave the way for the issuance and trading of digital financial instruments, with iFinex playing a crucial role in the development of laws, regulations, and guidelines relating to cryptocurrencies. Additionally, the company will provide advisory services to the El Salvador government on digital asset transactions.
A major highlight of this partnership is the introduction of the “Volcano Bond,” which will be the world’s first digital bond secured by Bitcoin. This groundbreaking financial instrument aims to raise funds for the construction of energy infrastructure for Bitcoin mining, showcasing the transformative potential of digital assets.
Paolo Ardoino, Chief Technology Officer of Bitfinex Securities, expressed his excitement about the project, emphasizing the opportunities it will create for capital mobilization and tokenization of shares in collaboration with the government of El Salvador and Blockstream.
El Salvador’s President, Nayib Bukele, echoed this sentiment, stating that this cooperation is a significant step towards positioning El Salvador as the new global financial hub.