Bitfinex Securities, a platform specializing in the listing of real-world tokenized securities, has unveiled its maiden tokenized bond, set to be listed in November. Named ALT2611, this new tokenized bond is a 36-month security offering a 10% coupon and is denominated in Tether (USDT). It is being issued by Mikro Kapital, a global leader in the field of microfinance.
ALT2611 tokenized bond is unique in its ability to assume risks associated with the debt and equity of microfinance institutions, small financial entities, leasing companies, and banks in various nations, including Italy, Romania, Moldova, and other developing regions along the historic Silk Road. The Silk Road was an ancient network of trade routes that connected Europe, the Middle East, and Asia.
Paolo Ardoino, the Chief Technology Officer at Bitfinex and the incoming CEO of Tether, heralded this debut tokenized bond as the dawn of a new era in capital raising, emphasizing the potential for deep liquid markets and stock/fund exchanges.
Exciting!
— Paolo Ardoino 🍐 (@paoloardoino) October 25, 2023
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
The Bitfinex Securities platform serves as a valuable resource for issuers seeking to list their tokenized securities on a public exchange. It facilitates access to a broad spectrum of financial instruments, with a particular emphasis on blockchain-based bonds and stocks, along with investment funds.
Businesses can leverage the Bitfinex Securities platform to directly list their tokenized securities on the exchange or to facilitate trading of these securities via the capital-raising platform. Moreover, companies can enable their products to be transacted on exchanges and across wallets, employing technology similar to cryptocurrencies, by tokenizing assets like debt and equity securities.
Securities encompass a wide range of financial instruments that can be traded and converted into various currencies across both public and private markets. They fall into three key categories: debt securities, representing loans that require regular repayment; hybrid securities, which blend elements of both debt and equity; and equity securities, granting ownership rights to holders.
Bitfinex has stated that the tokenized bond, ALT2611, will debut at a price of 100 USDT, with a minimum investment requirement of 125,000 USDT. The distribution of the securities is slated to commence within one week following the conclusion of the capital raising process, with a maturity period spanning three years from the date of issuance. This bond will be governed by and construed in accordance with the law of the Grand Duchy of Luxembourg.
As per the official announcement, Mikro Kapital intends to issue 100,000 securitized tokens of ALT2611 to raise 10 million USDT. It’s important to note that ALT2611 is not accessible to U.S. citizens or individuals situated within the U.S., or in any other jurisdiction where offering or sale would be deemed unlawful.
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