[NEWS] Bitfinex Securities lists first tokenized bond

Bitfinex Securities, a subsidiary of cryptocurrency exchange Bitfinex, announced the listing of a tokenized bond on the 24th.

The bond is said to utilize Blockstream Liquid, a Bitcoin (BTC) sidechain-based settlement network.

The tokenized bond, named "Alternative (ALT2611)," is a 36-month 10% interest-bearing bond denominated in the US dollar-backed stablecoin Tether (USDT). It will be issued by Mikro Kapital, a global leader in the microfinance field.

The company says it is part of a movement to synergize traditional financial products with the flexibility and innovation offered by blockchain. Bitfinex Securities said it plans to list in November.

The bond will primarily acquire risks associated with the debt and capital of microfinance companies, small financial institutions, leasing companies, regional banks, credit unions and other financial entities. These will be financial institutions located in Italy, Romania, Moldova, and areas along the Silk Road, and will provide services to micro, small and medium-sized enterprises and entrepreneurs throughout emerging countries.

The ALT2511 bonds will begin trading at a price of 100 USDT, with a minimum investment of 125,000 USDT (approximately 18 million yen). Distribution is expected within one week after the completion of fundraising. The allocation of securities will be on a first-come, first-served basis.

The maturity of the bonds is fixed at three years from issuance. A 10% annual yield can be expected with quarterly interest payments. The security will be governed by the laws of the Grand Duchy of Luxembourg.

According to an official announcement, Mikro Kapital plans to issue 100,000 ALT2611 bonds to raise a total of 10 million USDT. ALT2611 will not be offered or sold to retail investors in the United States or any jurisdiction where the offer or sale of such tokenized bonds may be considered illegal.

Bitfinex Securities has secured capital with the goal of "directing investors to innovative financial products and supporting hard-to-finance companies." Bitfinex CTO Paolo Ardoino said on X (formerly Twitter) that the product "signals a new era of fundraising through USDT liquidity and equity and bond markets."

Source:Announcement
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