El Salvador's regulator has just given approval for the country’s Bitcoin bonds, also known as "Volcano Bonds."
The Volcano Bond, which has been approved by El Salvador's Digital Assets Commission, could be launched during the first quarter of 2024.
Nayib Bukele, the country's president, has confirmed the news on X, saying, "Wen volcano bond?". In addition, he has published several posts in which he pointed out that the bonds will be issued in the first quarter of 2024.
The first news about the country issuing its own Bitcoin bonds broke in November 2021.
The Volcano Bond is intended to pay off sovereign debt and finance the construction of the country's proposed "Bitcoin City."
The bond will reportedly be issued on Bitfinex Securities Platform, a blockchain-based stock and bond trading site registered in El Salvador.