Bitfinex Securities, a platform focused on listing real tokenized securities, has announced its first tokenized bond to be listed later in November this year. The new tokenized bond called ALT2611 is a 36-month bond with a 10% coupon, denominated in USDT and issued by Mikro Kapital, one of the world leaders in microfinance.
Bitfinex Securities said the tokenized bond ALT2611 will pose risks related to the debt and equity of microfinance organizations, small financial institutions, leasing companies and banks in Italy, Romania, Moldova and other developing countries along the Silk Road.
Bitfinex Chief Technology Officer Paolo Ardoino called the first tokenized bond on the securities platform the beginning of a new era for capital raising “through deeply liquid markets and stock/fund markets.”
Exciting!
This is the first bond listed on Bitfinex Securities. A new era for capital raising through deeply liquid and equity/fund markets has begun.Furthermore, $USDt will become the underlying asset of this new financial ecosystem.
And yes. It uses… https://t.co/ekXj3gY7Xj
— Paolo Ardoino (@paoloardoino) October 25, 2023
The Bitfinex Securities platform aims to raise capital for issuers looking to list their tokenized securities on a public exchange. The platform provides access to a range of financial instruments, particularly blockchain-based bonds and equities, as well as investment funds.
Companies can use Bitfinex Securities to list their tokenized securities directly on the exchange or to facilitate trading of the securities through the capital raising platform. Companies can allow their products to be traded on exchanges and between wallets using the same or similar technology as cryptocurrencies by tokenizing their goods, such as debt and equity.
Securities are financial instruments that can be traded and converted into other currencies in both public and private markets. There are actually three categories of securities, namely debt, such as loans that have to be repaid regularly; hybrids, a mix of debt and equity elements; and equity, which confers ownership rights on holders.
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Bitfinex said the tokenized bond will trade at the price of 100 USDT with a minimum investment amount of 125,000 USDT. The distribution of securities will commence within one week after the completion of the capital increase, with a term of three years from the day of issuance. The securities bond is governed by and interpreted in accordance with the law of the Grand Duchy of Luxembourg.
According to the official announcement, Mikro Kapital will issue 100,000 securitized tokens of ALT2611 with the aim of raising 10,000,000.00000000 USDT. ALT2611 is not offered or made available to U.S. citizens or any person present in the U.S. or any other jurisdiction where the offer or sale would be unlawful.
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