iFinex signs partnership with El Salvador government
Bitfinex’s parent company, iFinex, has entered into a partnership with the government of El Salvador to develop a strong legal framework for digital assets and securities. This partnership is an important step in establishing comprehensive legal guidelines for digital assets in El Salvador and paving the way for the issuance and trading of digital financial products.
A new era of digital assets in El Salvador
With its extensive experience in operating trading platforms, iFinex will help El Salvador enact laws, regulations and guidelines related to cryptocurrencies. The company also supports the government of El Salvador in issuing and facilitating digital asset transactions, including the issuance of ‘Volcano Bonds’, the world’s first digital bonds collateralized by Bitcoin, aimed at building infrastructure for Bitcoin mining activities. It will serve in an advisory role.
Comments from iFinex and El Salvador officials
Paolo Ardoino, Chief Technology Officer at Bitfinex Securities, said he was excited to be involved in the project. He said, ‘We are very excited to participate in this project with the Government of El Salvador and Blockstream, opening up new opportunities for capital mobilization and equity tokenization.’
El Salvador’s President Nayib Bukele also shared his thoughts on the partnership. ‘We are proud of this collaboration and believe it will be an important step in establishing El Salvador as the world’s new financial center.’
A promising move for iFinex and El Salvador
This collaboration certainly promises to be a positive step forward for both iFinex and El Salvador and sets the stage for the exponential growth of the future digital asset market!
Image source: Shutterstock
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