El Salvador plans to issue its first “bitcoin bonds” next month, according to Finance Minister Alejandro Zelaya.
Zelaya said the government was planning to provide bonds. “All ready” for bond issuance between March 15 and March 20
“If we really want to build this country We have to invest like this,” Zelaya said, insisting that the government still plans to issue the first $1 billion of bonds previously discussed at the Nov. 20 event. However, Zelaya said heExpect bonds to be oversubscribed.About 500 million dollars at least.
According to Zelaya, more people will have access to this new type of bond than traditional bonds. This is because it allows a minimum purchase of $100 and does not require a brokerage. The bond issuance will be issued on Blockstream’s Liquid Network sidechain, with Zelaya saying bitcoin bonds “will comply with all the regulations of the financial markets,” such as KYC.
Back on November 20, El Salvador’s President Nayib Bukele spoke on stage with Samson Mow Blockstream’s chief strategy officer explained the specifics of Bonds, and Bukele also revealed plans to create a new crypto-friendly city known as “Bitcoin City.”
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