CryptoWorld News reports that Brazil ($obtc3) has approved the issuance of Bitcoin-backed bonds worth up to 210 million Brazilian reais (approximately $40 million) to fund further Bitcoin accumulation. The bonds are collateralized by Bitcoin and use a loan-to-value (LTV) based structure. The funds raised will mainly be used for Bitcoin acquisitions, with the private placement conducted by Italian bank Itaú, and the bonds maturing in January 2031. This is Brazil’s first such structured debt transaction, aimed at introducing Bitcoin-backed capital market infrastructure into the country.

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