El Salvador is planning to subject subsequent yr $1 billion in bonds backed by bitcoin, the newest effort by the economically pressured Central American nation to draw crypto capital.

The nation this yr turned the primary to undertake bitcoin as a nationwide forex. It plans to promote $1 billion in U.S. dollar-denominated 10-year bonds with a coupon of 6.5%. Half of that cash could be used to purchase bitcoin to carry for 5 years and the remainder would fund building tasks associated to bitcoin.

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