Bitfinex Securities – the specialized platform dedicated to the listing of real-world tokenized securities – announced that its first tokenized bond will be listed in November this year.
The new tokenized bond, called – ALT2611 – is a 36-month, 10% coupon bond and leverages Blockstream’s Bitcoin layer-2, Liquid.
According to the latest tweet by Tether CEO Paolo Ardoino, the tokenized bond ALT2611 is denominated in USDT stablecoin and issued by Mikro Kapital, a Luxembourg-based impact finance and microfinance group.
The also said that the first bond listed on Bitfinex Securities represents a “new era” for capital raises through “deep liquid markets and stock/fond markets.”
The website revealed that ALT2611’s core focus revolves around acquiring risks linked to debt and equity of micro-financing companies, small financial institutions, leasing firms, banks, or credit cooperatives granting access to financing services to micro-, small- and medium-sized enterprises and entrepreneurs.
This initiative extends across regions encompassing Italy, Romania, and Moldova, as well as emerging nations along the Silk Road.
ALT2611 is not offered to, nor is it made accessible for, US citizens or individuals currently situated within the United States or any other jurisdiction where such an offer or sale would contravene the law.
“ALT2611 is not offered or made available to Prohibited Persons, such as U.S. Persons or Persons present in the U.S. or any other jurisdiction where the offer or sale would be unlawful.”
Meanwhile, Bitfinex revealed that the tokenized bond will start trading at the price of 100 USDT while the minimum investment amount of 125,000 USDT. The security distribution within one week following the completion of the capital raise. It has a 3-year maturity period after issuance.
The securities bond will be governed by and construed in accordance with the law of the Grand Duchy of Luxembourg.
The latest development comes less than a month after Bitfinex Securities signed a Memorandum of Understanding (MOU) with Mikro Kapital in a bid to explore projects to tokenize, list, and trade debt securities and assess the use of USD-backed Tether tokens and Euro-backed Tether tokens for capital raising and microfinancing.
Ardoino, who is also serving as the CTO of Bitfinex Securities, had then commented.
“The global microfinancing market is on a trajectory to more than double from 2020 to 2027. The rising demand for robust tokenized investment opportunities aligns perfectly with the expertise Mikro Kapital brings to the microfinancing arena. We envision the immense potential for tokenized securities and microfinancing solutions in emerging markets.”
