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Bitfinex Securities, a platform dedicated to the listing of real-world tokenized securities, has revealed its inaugural tokenized bond, set to be listed later this November. The new bond, named ALT2611, is a 36-month bond with a 10% coupon rate, denominated in USDT, and issued by Mikro Kapital, a prominent player in the micro-financing sector globally.
According to Bitfinex Securities, the tokenized bond ALT2611 will encompass risks linked to the debt and equity of microfinance entities, small financial institutions, leasing firms, and banks in Italy, Romania, Moldova, and other developing countries along the Silk Road.
Paolo Ardoino, Chief Technology Officer at Bitfinex, described the launch of the first tokenized bond on the securities platform as the dawn of a new phase for capital raising “through deep liquid markets and stock/fond markets.”
Exciting!
This marks the first bond listed on Bitfinex Securities. A new era for capital raises through deep liquid markets and stock/fond markets has commenced.
Additionally, $USDt will serve as the underlying denomination asset of this emerging financial ecosystem.
And yes. It leverages… https://t.co/ekXj3gY7Xj— Paolo Ardoino (@paoloardoino) October 25, 2023
The Bitfinex Securities platform aims to assist issuers in raising capital by listing their tokenized securities on a public exchange. It provides access to a variety of financial instruments, particularly blockchain-based bonds and stocks, along with investment funds.
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Companies can utilize Bitfinex Securities to directly list their tokenized securities on the exchange or to enable the trading of these securities via the capital-raising platform. By tokenizing their assets, such as debt and equity securities, businesses can facilitate transactions on exchanges and between wallets using technology similar to that of cryptocurrencies.
Securities are financial instruments that can be traded and converted into other currencies in both public and private markets. They generally fall into three main categories: debt, which includes loans that require regular repayments; hybrids, which combine elements of both debt and equity; and equity, which provides ownership rights to the holders.
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Bitfinex announced that the tokenized bond will commence trading at a price of 100 USDT, with a minimum investment threshold of 125,000 USDT. The distribution of the securities will begin within one week following the completion of the capital raise, with a maturity period of three years from the issuance date. The bond will be governed by and interpreted in accordance with the laws of the Grand Duchy of Luxembourg.
As per the official announcement, Mikro Kapital will issue 100,000 securitized tokens of ALT2611, aiming to raise 10,000,000.00000000 USDT. ALT2611 is not available to U.S. citizens or individuals located in the U.S. or any other jurisdiction where the offer or sale would be illegal.
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