El Salvador Passes Bitcoin-Backed Bond Known As Volcano Bond
El Salvador has approved legislation known as Volcano Bond
This Volcano Bond is the one that gives a legal framework for a Bitcoin bond.
The sovereign debt can be paid through this bond and funding Bitcoin City construction.
The bill passed on Jan 11 will be a law once it is approved by the country’s president, Nayib Bukele.
Also, Bitfinex exchange, a technology provider of the bond will support El Salvador in raising capital.