El Salvador's Bitcoin Bond Faces Further Delay

On Tuesday, August 30, Bitfinex and Tether CTO Paolo Ardoino recently said that there will be a further delay in the launch of El Salvador’s Bitcoin bond.

Ever since El Salvador made Bitcoin a legal tender last year, the country has been working on its Bitcoin bonds. However, the launch had been delayed in multiple instances in the past and there could be further delays ahead as well! Earlier in March 2022, the Latin American country delayed the launch citing unfavorable market conditions.

However, they have no clear timeline even further. Some market experts believe that there’s not enough investor interest while others have started doubting whether it shall ever pass.

Bitfinex is currently the sole exchange provider for El Salvador’s Bitcoin Bond. Earlier in Mary, Bitfinex’s Ardoino said that he was waiting for the Latin American country to pass its digital securities bill. This would clear the way for Bitfinex to emerge as the technology provider of the bonds.

Back then, Ardoino had predicted that the token would launch by mid-September. Although the deadline is approaching closer, the bill is far from finalization.

Final Draft for Bitcoin Bond Is Ready

However, during his interview with Fortune, Ardoino said that El Salvador government officials told him that the final draft is ready and that they will be passing it soon in a couple of weeks. However, they haven’t yet provided any specific timeline for the same.

“If the law passes by September, I would expect it to reasonably take two to three months to have everything else rolled out,” Ardoino said.

But what if the El Salvador government fails to pass the draft bill next month? This could possibly mean a further delay even to early 2023. William Snead, a Latin America–focused strategist at BBVA told Fortune that the issuance of the Volcano tokens has brought a bad credit rating to El Salvador. “A crypto bond issuance has a very low probability of success, and is unlikely to come to the market,” he said.

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets.   He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.