El Salvador is promoting emission from Volcano bonds and announces support from state-owned companies

El Salvador is promoting emission from Volcano bonds and announces support from state-owned companies

el Salvador has postponed the issue of his highly expected volcanic bonds, which was originally supposed to be output until March 20.

Nayib Bukele, President of El Salvador, introduced the Bitcoin-supported bonds in November 2021. They are supposed to raise $ 1 billion for the “Bitcoin city” of the Central American nation, a community at the foot of the Central American nation Conchagua-Vulkan complete with mining companies and low taxes, Bukele promised

Zelaya informed the bond loan at the beginning of this month that the Bitcoin bonds are now supported by La Geo, a state heat company, according to Nathalie Marshik, head of state research for emerging markets at Stifel Financial.

Zelaya had previously stated that the war in Ukraine could influence the time of bond emission, since the market's appetite has due to risky systems.

The bonds are output in the liquid network, a Bitcoin Layer-2 Bitcoin set up by block stream. Although Blockstream provides the technology, the bonds do not work directly with the government of El Salvador, said a spokesman for the company.

The edition of the bond is still essential to counteract El Salvador's low credit views and increasing debts, said Marshik. The International Monetary Fund has made it clear to the introduction of Bitcoin as a legal means of payment.

The shift takes place because speculation about other Latin American countries that rely on digital assets are swelling. Honduras or Malaysia could be after El Salvador, which Bitcoin introduces as a legal means of payment, are .