Bitfinex Securities plans to issue a tokenized debt offering to finance the construction of a new Hampton by Hilton hotel at El Salvador International Airport, as per a statement provided to CryptoSlate on April 11.

This tokenized debt offering, the first of its kind in Central America, aims to raise $6.25 million. It features a 10% coupon over a 5-year period, with a minimum investment of $1000.

The hotel complex will span 4,484 square meters, housing 80 rooms, five commercial spaces, and various amenities across five levels.

Bitfinex Securities partnered with Inversiones Laguardia (HILSV), an established entity in El Salvador, for oversight. Ditobanx will handle tokenization and structuring, ensuring issuance on the Liquid blockchain. Trading under the HILSV ticker will occur exclusively on the Bitfinex Securities platform, with trading pairs including the US Dollar and Tether's USDT stablecoin.

Paolo Ardoino, Bitfinex CTO and Tether CEO, emphasized the significance of the HILSV token in developing El Salvador's capital market and introducing a new asset class.

The involvement of Hilton is limited to franchising.

The initiative is anticipated to create around 1,000 jobs during construction and up to 5,000 direct and indirect jobs during operations. The capital raise begins on May 13, 2024, and is expected to last a month.

Stakeholders view the project as an opportunity to further El Salvador's economy. Roberto Laguardia, president of Inversiones Laguardia, noted that recent digital asset laws provide access to previously unavailable capital markets, facilitating crucial tourism-related infrastructure development and subsequent economic benefits for Salvadoran citizens.