Bitfinex Securities is preparing to launch a new Bitcoin mining investment product in El Salvador this year.
This product is a Blockstream Mining Note 2 (BMN2) which is a tokenized financial product through which investors can receive Bitcoin mining rewards without direct access to mining machines.
Jesse Knutson, Head of Operations at Bitfinex Securities shared the news during an interview with Diario El Salvador at the Plan B Forum. He said that it will be regulated under the Salvadoran laws, and the exchange is in collaboration with the National Commission of Digital Assets (CNAD) to get the approval.
“BMN2 is one of a few tokenized assets with a proven track record. Investors can view how BMN1 performed. It will be directly accessible through our platform, and investors can sell and purchase it,” Knutson added.
BMN2 is based on the performance of Blockstream Mining Note 1 (BMN1) which was the first version and was issued in Luxembourg. BNM1 investors have earned over 1,212 BTC valued at over $70 million, with a 108% return in three years.
To invest in BNM1, investors would need to have at least a minimum of $100,000, but with BMN2 in El Salvador, they only need a lesser investment which means more investors can participate.
Moreover, Bitfinex has been making big moves in El Salvador’s digital assets sector. Last year in November, the exchange issued tokenized U.S. Treasury bills under the country’s Digital Asset Issuance Act, which was the first regulated tokenized U.S. Treasury offering with Bitcoin technology.
El Salvador itself is a crypto-friendly country that plans to attract big crypto firms from all over the whole. President Nayib Bukele’s administration made sure to issue regulations that favoured the bitcoin mining industry and also blockchain investment. In short, the country is one of the first countries that would make Bitcoin a legal tender.
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