Bitfinex Securities Spearheads First Tokenized Hotel Asset Venture in El Salvador
Summary:
Prospective investors have an opportunity to acquire tokenized shares in a new Hampton by Hilton hotel in El Salvador via Bitcoin's layer 2 Liquid Network. Bitfinex Securities and Inversiones Laguardia will facilitate this groundbreaking tokenized asset venture, hoping to raise $6.25 million through crowdfunding. The hotel will feature five floors and various facilities, with HILSV token holders earning free stays based on their investment. This initiative is hailed as a significant step in developing El Salvador's capital market and offering locals new access to financial markets.
In a pioneering move, prospective investors are being presented with an opportunity to procure tokenized shares of a new Hampton by Hilton hotel in El Salvador. Measuring 4,500 square feet, these shares will be available on Bitcoin's layer 2 Liquid Network. Bitfinex Securities, El Salvador's first regulated digital asset company, will handle this landmark tokenized asset venture, in cooperation with Inversiones Laguardia S.A. de C.V. The proposed hotel will be set up in proximity to the country's international airport. Inversiones Laguardia hopes to raise $6.25 million through crowdfunding, offering a 10% return over five years, in exchange for their investment.
On April 11, Paolo Ardoino, Bitfinex Securities' Chief Technology Officer, emphasized the significance of this first time opportunity not typically available to investors. This initiative will provide under-resourced markets access to a new class of finance. A minimum investment of $1,000 or more will be required from investors to secure the HILSV token on the Liquid Network, created by Bitcoin-centric infrastructure company Blockstream in 2018, led by veteran cypherpunk, Adam Back.
The hotel development will have an impressive five floors, accommodating 80 rooms, five commercial spaces and other facilities such as a swimming pool, restaurants, a gym, public gardens, and multi-purpose rooms, as per Bitfinex. HILSV token owners will also avail free nights at the hotel based on their investment size.
Back in April 2023, El Salvador, an active advocate for Bitcoin investments, granted Bitfinex a digital asset service provider license, widening its horizon into the tangible asset tokenization arena.
Jamie Robinson, the Chief Strategy Officer of The Bitcoin Hardware Store, addressed in a recent conversation with Cointelegraph how Bitfinex's foray reflects a refreshing change in capital markets in El Salvador, offering new ways for locals to enter financial exchanges.
Jesse Knutson, Head of Operations at Bitfinex Securities, acknowledged this capital raise as their feature venture in El Salvador, underlining how Bitcoin-focused capital markets have the potentiality for significant real-world transformation.
Published At
4/12/2024 3:53:49 AM
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