El Salvador, a nation already distinguished for embracing Bitcoin, has achieved another milestone in the crypto realm. The nation’s Volcano Bond, integral to its plan to establish the world’s first Bitcoin city, has received regulatory approval from the Digital Assets Commission (CNAD).
This development was confirmed by President Nayib Bukele in a post on social media, signaling a major step forward in the country’s crypto-centric vision.
A Vision of A Bitcoin-Powered Future
El Salvador’s Volcano Bond, set to launch in Q1 2024, marks a historic moment as the world’s inaugural BTC Bond. The National Bitcoin Office (ONBTC) of El Salvador shared their enthusiasm on social media, noting:
This is just the beginning for new capital markets on Bitcoin in El Salvador.
The bond, derived from the country’s initiative to leverage geothermal energy from its active volcanoes for BTC mining, aims to raise $1 billion to fuel this project.
Initially scheduled for issuance in March 2022, th
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