Bitfinex Securities to List Its First Tokenized Bond, ALT2611, in November
Summary:
Bitfinex Securities, an entity specializing in the listing of tokenized securities, announces its first tokenized bond, ALT2611. Expected to be listed in November, the 10% coupon bond is issued by global micro-financing leader, Mikro Kapital and carries risks related to the debt and equity of certain business sectors across multiple countries. Starting to trade at 100 USDT, the bond's security distribution will begin one week after completing the capital raise. Mikro Kapital plans to issue 100,000 ALT2611 tokens to raise 10,000,000.00000000 USDT. However, ALT2611 won't be accessible to U.S. citizens or persons in jurisdictions where such a sale would be deemed unlawful.
Bitfinex Securities, specializing in the listing of real-world tokenized securities, has unveiled its first tokenized bond set to be listed in November this year. The bond, known as ALT2611, is a 36-month, 10% coupon bond, denominated in USDT, and brought to market by Mikro Kapital, an internationally renowned micro-financing company. Bitfinex Securities explained that the ALT2611 bond will carry risk related to the debt and equity of businesses such as microfinance institutions, small financial firms, leasing entities and banks, in countries including Italy, Romania, Moldova, and other growing nations along the Silk Road. The launching of this first tokenized bond on the platform signals the start of a fresh chapter in raising capital through thoroughly liquid markets and stock/fond markets, according to Bitfinex's Chief Technology Officer Paolo Ardoino.
Bitfinex Securities platform is designed to assist issuers in raising capital by listing their tokenized securities on a public exchange. This platform gives entry to a diverse variety of financial tools, most notably blockchain-anchored bonds and shares, in addition to investment funds. Enterprises can use Bitfinex Securities to either directly list their tokenized securities on the exchange, or to enable the trading of these securities via the capital-raising platform. By tokenizing their offerings, such as debt and equity securities, businesses can allow their products to be traded on exchanges and between wallets using similar or equivalent technology as cryptocurrencies.
Securities are tradable financial assets that can be exchanged for other currencies in both public and private markets. These are generally categorized into three types, namely debt, which refers to regular repayments; hybrids, combining elements of debt and equity; and equity, conferring ownership rights to holders.
Bitfinex disclosed that the tokenized bond will commence trading at a price of 100 USDT, with a minimum investment requirement of 125,000 USDT. The distribution of the security will start within a week of completing the capital raise, carrying a maturity period of 3 years from issuance. The securities bond will be guided and interpreted according to the laws of the Grand Duchy of Luxembourg.
As per the official statement, Mikro Kapital plans to issue 100,000 securitized ALT2611 tokens with an ambition to raise 10,000,000.00000000 USDT. ALT2611 will not be accessible to U.S. citizens or anyone presently in the U.S. or any other jurisdiction where such offering or sale would be illegal.
Published At
10/25/2023 1:07:46 PM
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