Latam Insights: Volcano Bonds Target Q1 2024 Launch, Unblock Global $15 Million Bitcoin Flare Gas Bet The Salvadoran Bitcoin Volcano Bonds, a series of digital on-chain debt instruments, are set to fund the construction of the Bitcoin City in El Salvador. The regulatory framework enabling its issuance has been approved, and now, the bonds are estimated to be launched in
Q1 2024.
Stacy Herbert, head of the Bitcoin Office, emphasized the significance of this move, stating that the approval of this regulation marked "just the beginning for new capital markets on bitcoin in El Salvador." The size of the offer is estimated to be around
$1 billion, and issuing these first sovereign bonds will help develop new capital markets around Bitcoin.
Unblock Global, a Bitcoin mining company, has raised
$15 million to take advantage of the flare gas possibilities for Bitcoin mining in Vaca Muerta, Argentina. This capital raise will enable Vaca Muerta to produce oil with less emissions, reducing oil emissions’ impact seven times.
The newly proclaimed Argentine President Javier Milei has initiated a series of policy changes, including slashing several existing ministries to reduce state expenditure. This includes a reduction of public subsidies for energy and transportation and a devaluation of the Argentine peso’s value by more than
50%.
In conclusion, the developments in Latin America's crypto and environmental sectors are truly groundbreaking. The potential launch of the Volcano Bonds in El Salvador and the innovative environmental initiatives in Argentina are poised to make a significant impact on the region's financial and ecological landscapes. Stay tuned for more updates as these exciting projects unfold!
