El Salvador to Elevate Bitcoin Status by Issuing Bonds - BitcoinEthereumNews.com
Zelaya elaborated that El Salvador is काम कर रहे to have the bond “totally ready” for issuance between March 15 and March 20 as a means to strengthen the countrys economy. “If we really want to build this country, we have to invest in it like this,” Zelaya said speaking at a local news program. Furthermore, Zelaya said that the government is still planing to issue $1 billion for the first bond, as previously mentioned on November 20. However, Zelaya also mentioned that there are chances of oversubscription for the bond by about $500 million minimum. Buyers are expected to have easier access to the bond than traditional ones. It will allow a minimum purchase of $100 and does not require a stockbroker to conduct the transactions. The bond will be issued on Blockstreams Liquid Network sidechain and they “will comply with all the regulations of the financial markets,” such as know-your-customer (KYC) and due diligence practices. The bitcoin bond idea was first introduced at an event on November 20, by El Salvadors president Nayib Bukele and Blockstream chief strategy officer Samson Mow. Fitch downgrades El Salvador into “Junk” level However, Fitch Ratings – a top American credit rating agency – has downgraded El Salvador‘s Long-Term Foreign-Currency