Paolo Ardoino, chief technology officer of Bitfinex and incoming CEO of Tether, stated that the “exciting” initiative signals the beginning of a new era in capital raising.
Bitfinex Securities, a platform specializing in the listing of real-world tokenized securities, has announced that it will list its first tokenized bond in November.
The new tokenized bond, ALT2611, is a Tether-denominated, 36-month, 10% coupon bond issued by Mikro Kapital, a global leader in microfinance.
Bitfinex Securities stated that the tokenized bond ALT2611 would be exposed to risks associated with the debt and equity of microfinance organizations, minor financial institutions, leasing companies, and banks in Italy, Romania, Moldova, as well as developing nations in the Middle East and Asia.
Paolo Ardoino, Bitfinex CTO, referred to the first tokenized bond on the securities platform as the start of a new era for capital raising “through deep liquid markets and stock/fond markets.”
The Bitfinex Securities platform is designed to assist issuers seeking to list their tokenized securities on a public exchange in raising capital.
The platform provides access to a variety of financial instruments, including blockchain-based bonds, equities, and investment funds.
Businesses can use Bitfinex Securities to list tokenized securities directly on the exchange or to facilitate trading of the tokenized securities via the capital-raising platform.
By tokenizing their goods, such as debt and equity securities, companies can enable their products to be transacted on exchanges and between wallets using the same or comparable technology as cryptocurrencies.
Meanwhile, on both public and private markets, securities are tradable and convertible into other currencies.
There are three types of securities: debt, such as loans that must be repaid regularly; hybrids, which combine elements of debt and equity; and equity, which grants holders ownership rights.
Bitfinex announced that the tokenized bond would begin trading at 100 USDT per token, with a minimum investment of 125,000 USDT.
The distribution of securities will begin one week after the completion of the capital raise, with a maturity period of three years from the date of issuance.
The securities bond will be governed by and interpreted in conformance with Luxembourg law.
According to the official announcement, Mikro Kapital will issue one hundred thousand securitized ALT2611 tokens to raise ten million USDT.
ALT2611 is not offered or made available to U.S. citizens or individuals present in the U.S. or any other jurisdiction where the offer or sale would be illegal.
