iFinex Collaborates with El Salvador Government to Develop Digital Asset and Securities Framework
Zach Anderson May 13, 2024 17:09
iFinex, the parent company of Bitfinex, partners with El Salvador to create a robust legal framework for digital assets and securities.
iFinex Partners with El Salvador Government
iFinex, the parent company of Bitfinex, has entered into a partnership with the government of El Salvador to develop a robust legal framework for digital assets and securities. This partnership marks a significant step in establishing comprehensive legal guidelines for digital assets in El Salvador, paving the way for the issuance and trading of digitized financial instruments.
A New Era for Digital Assets in El Salvador
With a wealth of experience in operating trading platforms, iFinex will assist El Salvador in formulating laws, regulations, and guidelines related to cryptocurrencies. The company will also act as an advisor to the El Salvador government in issuing and facilitating the trading of digital assets, including the issuance of 'Volcano Bonds' – the world's first digital bond secured by Bitcoin, aimed at constructing infrastructure for Bitcoin mining activities.
Comments from iFinex and El Salvador Officials
Paolo Ardoino, the Chief Technology Officer of Bitfinex Securities, expressed his excitement about joining the project. He said, 'We are thrilled to be part of this project, along with the El Salvador government and Blockstream, to unlock new opportunities for capital mobilization and tokenization of shares.'
El Salvador's President, Nayib Bukele, also shared his thoughts on the partnership. 'We are proud of this collaboration and believe it will be a significant step towards El Salvador becoming the new financial center of the world.'
A Promising Move for iFinex and El Salvador
This collaboration certainly promises a positive stride for both iFinex and El Salvador, setting the stage for the exponential growth of the digital asset market in the future!
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