El Salvador Considers Bitcoin Bond Issuance in March, Considers BTC Loans for SMEs

Source: Adobe Stock / Rojo

El Salvador could be set to unveil its much-talked-about Bitcoin (BTC) bond offerings as early as next month – and could also unveil new Bitcoin loan offerings for small and medium-sized enterprises (SMEs) and micro-industries.

The latest bond development was unveiled by a key ally of President Nayib Bukele: Mónica Taher, head of international technology and economic affairs at the Trade and Investment Secretariat.

taher take from Twitter to announce:

“The first one [bond] the issue should be released between March 15 and 20. They will be [issued] through the [Bitcoin] Lightning Network – through which anyone wishing to invest 100 USD can do so without having to use a broker.

In one later commentTaher clarified that the $100 in question referred to the original value of the bond.

Diario El Salvador, the Bukele administration’s semi-official mouthpiece, further reported that the country’s finance minister, Alejandro Zelaya, said:

“The advantage of bitcoin bonds is that they accept payment in both cryptocurrency and bitcoin. This provides access to a capital market. sale. “

Zelaya added that the “supply” was more valuable because “access” would be “democratized”.

Bukele and his government are confident that the show – which will be used to fund the construction of a paradise city for international crypto advocates – will raise around $1 billion.

However, some social media-based observers have opined that some governments may seek to block their citizens from accessing the bonds – although if BTC payment is accepted through the Lightning Network, such a ban may be difficult to enforce.

Meanwhile, ElSalvador.com reported that Taher also explained that the government was working to “provide low-interest bitcoin loans to small and micro businesses.”

Taher was also quoted as explaining that “small bitcoin loans” will give unbanked people “access to digital money and help them build a credit history.” She enthused that El Salvador’s economy would be “strengthened by empowering small businesses.”

Officials also claimed that such a lending scheme, which would focus on “micro and small businesses”, would work with the state apparatus. Chivo BTC wallet and app.

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Learn more:
– El Salvador turns to US-based AlphaPoint to bolster its Chivo Bitcoin app
– Cryptoverse mocks IMF Bitcoin threats against El Salvador with Memes, BTC Rises

– New Salvadorian laws will help Bitcoiners who want to settle in the country, says government
– Salvadoran expats ‘Clash’ in LA Park over Bukele, Bitcoin

– Argentinian crypto firm establishes base in El Salvador to circumvent tax reporting requirements
– Companies and countries are watching and learning from El Salvador’s Bitcoin experience

– 5 key trends to watch in 2022 according to the CEO of Grayscale
– Crypto adoption in 2022: what to expect?


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