Bitfinex donates 36 Bitcoin (BTC), USD 600,000 Tether tokens (USDT) to help small businesses in El Salvador
ROAD TOWN, British Virgin Islands [DATE]- Bitfinex (a state-of-the-art digital token trading platform) today announced that it will donate 36 bitcoin (BTC) and US $ 600,000 Tether tokens (USDt) to help small businesses and communities in El Salvador as part of the exchange’s continued support for the country .
In collaboration with Max Keizer and Stacy Herbert, early bitcoin users and content creators, who live in El Salvador, the funds are distributed in cities and towns where street gangs have been accused of extorting money from companies. El Salvador made bitcoin a legal tender in 2021, and the country has become a test site for big companies like McDonalds and Starbucks to implement bitcoin technologies like the Lightning Network, a peer-to-peer “layer 2” payment protocol.
The funds, which are first aimed at small businesses in some of the country’s most socially disadvantaged communities in Ilopango, Soyapango and Apopa, will support a number of projects and initiatives. Among the measures supported by the donations are green business initiatives that employ young men to reduce pollution in Lake Ilopango and clean up rubbish in Apopa.
The Bitcoin donations are passed on to the recipients’ bitcoin wallets, including the Chivo wallets, which have been made available to all adults in El Salvador to promote the use of bitcoin.
“This real-time financing demonstrates the potential of bitcoin to bring prosperity and economic freedom,” said Paolo Ardoino, CTF at Bitfinex. “By giving bitcoin and Tether to local communities in El Salvador, we will provide important support to small businesses, while counteracting the effects of gang violence that has swept across the country.”
Bitfinex Securities El Salvador, SA de CV acts as a financial technology provider for El Salvador’s upcoming $ 1 billion volcanic token. The Bifinex trading platform will provide the technology infrastructure to allow tokens to trade in efficient and liquid markets.
iFinex Inc., the parent company of Bitfinex, is also working with the Government of El Salvador to create a regulatory framework for digital assets and securities to regulate, issue and operate digital financial instruments in El Salvador, as well as assist in creating and implementing balanced cryptocurrency legislation and regulation. of digitized financial instruments as they promote the growth of the cryptocurrency industry in El Salvador.
The Vulkantoken will only be available to verified Bitfinex Securities clients in eligible jurisdictions. The token will not be available in the US or for US individuals.
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About Bitfinex
Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for digital currency traders and global liquidity providers. In addition to a suite of advanced trading features and mapping tools, Bitfinex provides access to peer-to-peer financing, an OTC market and funded trading for a wide range of digital tokens. Bitfinex’s strategy focuses on offering unmatched support, tools and innovation for professional traders and liquidity providers worldwide. Visit www.bitfinex.com to learn more.
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