Bitfinex Securities announces tokenized bond

Bitfinex Securities, a platform focused on listing real-world tokenized securities, announced its first tokenized bond to be listed in November. The new bond, ALT2611, is a Tether (USDT)-denominated 36-month 10% coupon bond issued by Micro Capital, a global microfinance leader.

Bitfinex Securities said that the tokenized bond ALT2611 was to acquire risks related to debt and equity of microfinance organizations, small financial institutions, lessor companies and banks in Italy, Romania and Moldova, as well as in other developing countries near the Silk Road. A historic network of trade routes connecting Europe, the Middle East, and Asia.

Bitfinex Chief Technology Officer Paolo Arduino called the first tokenized bond on the security platform the start of a new era of capital “in deeply liquid markets and equity/popular markets.”

Fun! This is the first bond to be listed on Bitfinex Securities. A new era of capital through deeply liquid markets and equity/popular markets has begun.

Furthermore, $USDt will be the fundamental asset of this new financial ecosystem.

And yes. It uses… https://t.co/ekXj3gY7Xj

— Paolo Ardoino (@paoloardoino) October 25, 2023

The Bitfinex Securities platform is intended to raise capital for issuers seeking to list their tokenized securities on a public exchange. The platform offers access to a variety of financial instruments, particularly blockchain-based bonds and stocks, as well as investment funds.

Businesses can use Bitfinex Securities to list their tokenized securities directly on the exchange or facilitate the trading of the securities through a crowdfunding platform. Companies can allow their products to be traded between exchanges and wallets by tokenizing their commodities, such as debt and equity securities, using the same or comparable technology as cryptocurrencies.

Securities are financial instruments that can be traded in public and private markets and can be converted into other currencies. There are three categories of collateral: debt, which must be regularly repaid as a loan; A hybrid that combines elements of debt and equity; and equity, which gives ownership rights to owners.

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Bitfinex said the tokenized bond will start trading at a price of 100 USDT, with a minimum investment amount of 125,000 USDT. The maturity period of three years from the date of issuance of the security distribution shall commence within one week after the completion of the capital increase. The Security Bonds shall be governed by and construed in accordance with the laws of the Grand Duchy of Luxembourg.

According to the official announcement, Micro Capital will issue 100,000 certified ALT2611 tokens to earn $10 million. ALT2611 is not offered or offered to US citizens or persons located in the US or any other jurisdiction where the offer or sale is illegal.

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