El Salvador’s innovative Bitcoin (BTC) “Volcano Bonds” have received regulatory approval and are scheduled to be launched to the public in the first quarter of next year.
El Salvador’s National Bitcoin Office (ONBTC) says the country’s Digital Assets Commission (CNAD) approved the bonds after nearly two years of delays.
El Salvador’s pro-crypto president, Nayib Bukele, first announced in November 2021 that the Central American country would issue the bonds.
They were originally expected to launch in early 2022, but Bukele delayed them indefinitely when the BTC price fell.
The Bitcoin bonds, the first of their kind in the world, will be traded on Bitfinex Securities, according to ONBTC.
It’s not the only recent Bitcoin news for El Salvador: last week, the country launched a new “Freedom Visa Program” for high-net-worth individuals willing to shell out $1 million in BTC or USDT for a passport.
Bukele has long been a supporter of Bitcoin. El Salvador has more than $130 million in BTC, and the main crypto asset is recognized as legal tender in the country.
The president also says the country has “no intention of selling” its Bitcoin, despite BTC’s price surge this year.