The post El Salvador and Botev Plovdiv Partner in Pioneering Bitcoin Financial Venture appeared on BitcoinEthereumNews.com.

Tokenized shares available through Bitfinex Securities aim to democratize ownership, allowing global fans to invest in the football club. Beyond financing, Botev Plovdiv adopts Bitcoin for ticket and merchandise sales, integrating cryptocurrency throughout the club’s operations. El Salvador has become the new financial hub for a European project involving Bitcoin, as the oldest football club in Bulgaria, Botev Plovdiv, announces plans to issue its tokenized shares from the Central American nation. Botev Plovdiv’s Financial Shift to Tokenized Shares George Manolov, the Bitcoin Strategy Leader for Botev Plovdiv, revealed that the football club has established a financial entity in El Salvador. This entity will issue tokenized shares or tokens as a method of financing, allowing creditors to become co-owners of the sports entity.  This venture aligns with El Salvador’s pioneering legal embrace of Bitcoin, offering foreign entities like Botev Plovdiv considerable fiscal flexibility for Bitcoin holdings. Token Issuance and Global Participation The tokenized shares will be issued on the Bitcoin Liquid Network and will be available for purchase through the Bitfinex Securities platform, which has experience in handling tokenized shares in El Salvador. Manolov emphasized the intent behind this move, stating,  “We are here because we want to issue tokens from El Salvador to accumulate BTC, but also to allow our fans globally and anyone interested to be part of the process of becoming a recognized European club.” Manolov also highlighted the collaboration with Bitfinex Securities aimed at “democratizing shares,” noting that the investment threshold would be very low, allowing virtually anyone to become a co-owner of the club. Beyond Tokenized Shares: Bitcoin Adoption in Club Operations Botev Plovdiv’s adoption of Bitcoin extends beyond financial instruments. The club has enabled its fans to pay for tickets and merchandise using the digital currency. Furthermore, it has introduced incentives for using Bitcoin and…

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Filed under: News - @ June 10, 2024 2:26 pm