Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
El Salvador Update: ‘Volcano Bonds’, Bitcoin City, Crypto Visa Program
Crypto | Dec 12, 2023
Image courtesy of DALL-E
After becoming the first country to adopt Bitcoin as legal tender in 2021, El Salvador is now launching the world's first Bitcoin bonds early 2024, a move that could revolutionize the global financial landscape.
Volcano Bonds
El Salvador's just received approval to launch of the world's first Bitcoin bonds, expected in the first quarter of 2024.
🚨BREAKING NEWS🚨
The Volcano Bond has just received regulatory approval from the Digital Assets Commission (CNAD).
We anticipate the bond will be issued during the first quarter of 2024.
This is just the beginning for new capital markets on #Bitcoin in El Salvador.
🇸🇻🌋🚀
— The Bitcoin Office (@bitcoinofficesv) December 12, 2023
These "Volcano Bonds," offering a 10-year term with a 6.5% annual return, are a cornerstone in the development of new Bitcoin-based capital markets in El Salvador. The proceeds from these bonds are earmarked for the ambitious "Bitcoin City," a project that aims to create a hub for cryptocurrency and blockchain technology, powered by the nation's volcanic energy.
Bitcoin Visa Program and Mining
In a parallel move to bolster its position as a crypto-friendly destination, El Salvador has launched the Bitcoin visa program. This initiative, in collaboration with Tether, aims to attract crypto investors by offering citizenship in exchange for a significant investment in Bitcoin or USDT stablecoin.
The Bitcoin visa program has reportedly raised $153 million within just a week of its launch, reflecting the high global interest in this unique opportunity. This program allows up to 1,000 individuals annually to participate in El Salvador's Bitcoin-driven economic revival, potentially raising up to $1 billion each year.
See: Visa’s Solutions for the Creator Economy and Fintech Opportunities for Tomorrow’s Digital SMBs
El Salvador has already begun tapping into its volcanic resources for Bitcoin mining, in partnership with Luxor Technology, on a project valued at $1 billion. This not only underscores the country's commitment to cryptocurrency but also highlights its innovative approach to leveraging natural resources for economic growth.
Conclusion
As El Salvador prepares for this historic launch and continues to attract investment through its visa program, all eyes are on this small nation. The success of these bonds will blend traditional investment mechanisms with the evolving world of cryptocurrency.
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