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El Salvador Bitcoin Bond Issuance Coming as Soon as March 15: Finance Minister

·1 min read

El Salvador’s initial $1 billion bitcoin bond issue will take place between March 15 and March 20, Finance Minister Alejandro Zelaya said Tuesday.

  • Speaking on Salvadoran TV show "Frente a Frente", Zelaya said the bond will be launched on Liquid, a bitcoin-based service created by Blockstream, and come with a 6.5% coupon.

  • The use of Liquid, said Zelaya, will allow investors to take part in the deal with as little as $100. "Bonds will comply with all financial market regulations,” he added. “All [know-your-customer] requirements will be met, all due diligence will be done.”

  • Samson Mow, chief strategy officer of Blockstream, told CoinDesk in December the bond already had $300 million worth of soft commitments.

  • When announcing the bitcoin bond in November, El Salvador President Nayib Bukele said half of the $1 billion raised would be used to help construct needed energy and bitcoin mining infrastructure, and the rest used to add to the country’s holdings of the crypto.