El Salvador’s Hampton by Hilton hotel has tied up with virtual asset provider firms to launch an asset tokenization initiative where investors would be able to buy the hotel’s tokenized shares.
Asset tokenization projects are gaining prominence across the global crypto sector. A viable use case emerged in El Salvador, a crypto-friendly country. The Hampton by Hilton hotel in the country has launched an asset tokenization project, tying up with crypto firms. The project will enable investors to buy the hotel’s tokenized shares. Meanwhile, Bitfinex, the collaborator, will host the shares on the Bitcoin layer 2 network.
Laguardia S.A. de C.V will enable the debt raise, which will fund the construction of the hotel in El Salvador’s international airport. The firm is looking to raise $6.25 million from the exercise. Paolo Ardoino, the CTO at Bitfinex, hailed the project and claimed it would help in crypto adoption.
He said, “For the first time, investors who do not usually have the opportunity to invest in such assets have the opportunity to do so, while issuers in markets which have less access to capital, are able to tap into a new asset class to raise finance.”
Investors must make a minimum investment of $1000 on the HILSV ticker on the Bitcoin layer 2 network. In addition to their stakes, HILSV holders will receive attractive offers in the hotel, including free night accommodations. The hotel will have 80 rooms, commercial spaces, and all modern amenities.
Moreover, Inversiones Laguardia and Bitfinex representatives noted the move is a turning point for Bitcoin capital markets. It could help investors willing to buy tokenized shares and businesses looking to raise capital.
Meanwhile, the development’s emergence in El Salvador doesn’t surprise, as the country has profoundly backed the crypto sector.
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