TechFlow reports that digital asset platform Bitfinex Securities has announced it will refund investors' contributions for the Hilton hotel project at El Salvador's international airport.
The project failed to reach the minimum financing threshold of $500,000 required to proceed, raising only $342,000. A Bitfinex spokesperson confirmed that all investor funds will be returned in accordance with the relevant offering documents, though the issuer is expected to restructure the project.
The issuer, Inversiones Laguardia S.A. de C.V., has not yet confirmed its next steps. Currently, Bitfinex has removed the public offering information from its website. The project aimed to build an 80-room Hilton hotel, with investors required to invest at least $1,000 to purchase "HILSV" tokens, targeting a 10% annual coupon over five years. Since El Salvador granted Bitfinex a license as a digital asset service provider in April 2023, the company has actively expanded into tokenizing physical assets.
