Bitfinex Securities has announced its first-ever
tokenized bond set to debut in November. This bond, denominated in
Tether and offering a coupon rate of 10% over 36 months, aims to enhance the process of raising capital.
Dubbed ALT2611, the tokenized bond is set to acquire
risks associated with the debt and equity of microfinance organizations, small
financial institutions, leasing companies, and banks across Italy, Romania,
Moldova, and other developing nations along the historic Silk Road, the crypto
exchange said.
Paolo Ardoino, the Chief Technology Officer at
Bitfinex and the incoming CEO of Tether praised this initiative, describing it as the dawn
of a new era in the world of finance. Bitfinex Securities aims to create liquid markets with the new offering, redefining
the dynamics of stock and fund 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
Bitfinex Securities said it is committed to helping
issuers to access public exchanges with their tokenized securities. This
platform facilitates the trading of blockchain -based bonds, stocks, and
investment funds. Businesses can list their tokenized securities directly on
Bitfinex or utilize Bitfinex Securities to facilitate trades.
Besides that, Bitfinex Securities offers an
opportunity for companies to tokenize their goods, debt, and equity
securities, Cointelegraph reported. This allows the trading of such products on
exchanges and between wallets using technology akin to that which underpins cryptocurrencies to expand the scope of financial transactions.
A Minimum Investment Threshold of 125,000 USDT
ALT2611 will be available for trading at an initial
price of 100 USDT, with a minimum investment threshold of 125,000 USDT.
Security distribution will commence within a week after the raising of capital is complete. The tokenized bond offers a three-year maturity period from the
issuance date. The bond will adhere to the legal framework of the Grand Duchy
of Luxembourg.
Mikro Kapital will issue 100,000 securitized
tokens of ALT2611 to raise 10 million USDT. Notably, ALT2611 will not be
available to US citizens, individuals within the US, or any other
jurisdiction where the offer or sale would be considered unlawful.
Recently, iFinex Inc., the parent company of
Bitfinex, announced a share buyback amounting to $150 million. This initiative
is intended to provide relief to victims of the 2016 hack. The share buyback initiative placed iFinex at
a valuation of $1.7 billion.
Additionally, Bitfinex has introduced zero-fee trading for market takers on its peer-to-peer trading platform in Argentina,
Colombia, and Venezuela. This move allows crypto enthusiasts in these regions
to buy and sell digital assets at market prices without incurring transaction
fees.
Bitfinex Securities has announced its first-ever
tokenized bond set to debut in November. This bond, denominated in
Tether and offering a coupon rate of 10% over 36 months, aims to enhance the process of raising capital.
Dubbed ALT2611, the tokenized bond is set to acquire
risks associated with the debt and equity of microfinance organizations, small
financial institutions, leasing companies, and banks across Italy, Romania,
Moldova, and other developing nations along the historic Silk Road, the crypto
exchange said.
Paolo Ardoino, the Chief Technology Officer at
Bitfinex and the incoming CEO of Tether praised this initiative, describing it as the dawn
of a new era in the world of finance. Bitfinex Securities aims to create liquid markets with the new offering, redefining
the dynamics of stock and fund 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
Bitfinex Securities said it is committed to helping
issuers to access public exchanges with their tokenized securities. This
platform facilitates the trading of blockchain -based bonds, stocks, and
investment funds. Businesses can list their tokenized securities directly on
Bitfinex or utilize Bitfinex Securities to facilitate trades.
Besides that, Bitfinex Securities offers an
opportunity for companies to tokenize their goods, debt, and equity
securities, Cointelegraph reported. This allows the trading of such products on
exchanges and between wallets using technology akin to that which underpins cryptocurrencies to expand the scope of financial transactions.
A Minimum Investment Threshold of 125,000 USDT
ALT2611 will be available for trading at an initial
price of 100 USDT, with a minimum investment threshold of 125,000 USDT.
Security distribution will commence within a week after the raising of capital is complete. The tokenized bond offers a three-year maturity period from the
issuance date. The bond will adhere to the legal framework of the Grand Duchy
of Luxembourg.
Mikro Kapital will issue 100,000 securitized
tokens of ALT2611 to raise 10 million USDT. Notably, ALT2611 will not be
available to US citizens, individuals within the US, or any other
jurisdiction where the offer or sale would be considered unlawful.
Recently, iFinex Inc., the parent company of
Bitfinex, announced a share buyback amounting to $150 million. This initiative
is intended to provide relief to victims of the 2016 hack. The share buyback initiative placed iFinex at
a valuation of $1.7 billion.
Additionally, Bitfinex has introduced zero-fee trading for market takers on its peer-to-peer trading platform in Argentina,
Colombia, and Venezuela. This move allows crypto enthusiasts in these regions
to buy and sell digital assets at market prices without incurring transaction
fees.
