El Salvador to Issue $1B in Tokenized Bonds on Blockstream’s Liquid Network
The President of El Salvador reportedly announced that the El Salvador government will issue a $1 billion “Bitcoin Bond” on the Blockstream Liquid sidechain network. To facilitate the process, El Salvador’s government is working on a securities law, and the first license to operate an exchange would go to Bitfinex. The funds raised will be split between a $500 million allocation of Bitcoin and $500 million to building out energy and Bitcoin mining infrastructure in the region. [Read more]
Digital yuan being trialed for securities transactions
China Galaxy Investment Management will run a digital yuan pilot for securities transactions in association with ICBC Bank. The central bank digital currency (CBDC) project will be used to pay fees for data, consulting and other services, and to settle over-the-counter stock transactions in the tripartite deposit management system. [Read more]
White paper introducing Jack Dorsey’s decentralized Bitcoin exchange published on Friday
Jack Dorsey, co-founder, and CEO of both Square and Twitter, released a white paper detailing plans for Square’s decentralized Bitcoin exchange tbDEX. Unlike most decentralized exchanges, or DEXs, tbDEX will not utilize a trustless model, and therefore will not feature its own governance token. Instead, it is a message protocol designed to facilitate trust relationships without relying on a federation to control access. [Read more]
To get these updates sent to your inbox, please sign up here. Also, for those interested in intra-day updates and news that didn’t make the Daily Digest cut, please check out my Diigo fintech bookmarks: https://www.diigo.com/user/kiffmeister/Fintech.
See this post by David Gerard for more detail on the El Salvador "Bitcoin Bonds" including some shady stuff involving iFinex, under the guise of Bitfinex Securities, the crew behind Tether. https://davidgerard.co.uk/blockchain/2021/11/21/el-salvador-a-1-billion-bitcoin-bond-to-set-up-bitcoin-city/