Bitfinex Securities announces tokenized bond

Paolo Ardoino, Bitfinex CTO and upcoming Tether CEO, said the “exciting” initiative marks the beginning of a new era in capital raising.

Bitfinex Securities, a platform focused on listing real-world tokenized securities has announced its first tokenized bond that will be listed later in November this year. The new tokenized bond called ALT2611 is a 36-month, 10% coupon bond, denominated in USDT and issued by Mikro Kapital, one of the global leaders in micro-financing.

Bitfinex Securities said the tokenized bond ALT2611 will acquire risks associated with the debt and equity of microfinance organizations, small financial institutions, leasing companies and banks, in Italy, Romania, Moldova, and other developing nations along the Silk Road.

Bitfinex Chief Technology Officer Paolo Ardoino called the first tokenized bond on the securities platform the beginning of a new era for capital raises “through deep liquid markets and stock/fond markets.”

Exciting!
This is the first bond listed on Bitfinex Securities. A new era for capital raises through deep liquid markets and stock/fond markets has begun.

Furthermore $USDt will become the underlying denomination asset of this new financial ecosystem.

And yes. It leverages… https://t.co/ekXj3gY7Xj

— Paolo Ardoino (@paoloardoino) October 25, 2023

The Bitfinex Securities platform is intended to help raise capital for issuers looking to list their tokenized securities on a public exchange. The platform offers access to a range of financial instruments, most notably blockchain-based bonds and stocks, as well as investment funds.

Businesses can use Bitfinex Securities to list their tokenized securities directly on the exchange or to facilitate the trading of the securities through the capital-raising platform. Businesses can allow their products to be transacted on exchanges and between wallets using the same or comparable technology as cryptocurrencies by tokenizing their goods, such as debt and equity securities.

Securities are financial instruments that can be traded and converted into other currencies in both public and private markets. There are basically three categories of securities namely debt, such as loans that must be repaid on a regular basis; hybrids, a mix of elements of debt and equity; and equity, which grants ownership rights to holders.

Bitfinex said the tokenized bond will start trading at the price of 100 USDT with a minimum investment amount of 125,000 USDT. The security distribution will begin within one week after the completion of the capital raise with a 3-year maturity period from the day of issuance. The securities bond will be governed by and construed in accordance with the law of the Grand Duchy of Luxembourg.

According to the official announcement Mikro Kapital will issue 100,000 securitized tokens of ALT2611 with the aim of raising 10,000,000.00000000 USDT. ALT2611 is not offered or made available to U.S. citizens or persons present in the U.S. or any other jurisdiction where the offer or sale would be unlawful.

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