December 20th First tokenized bond raises over 5 million USDt from Bitfinex Securities
From media materials
Astana, Kazakhstan, December 20, 2023 – Bitfinex Securities Ltd (https://www.bitfinex.com/securities/), a provider of listing and trading services for security tokens, announces the successful raising of $5,200,100 USDt in one of the world’s first tokenized bond issuances. I’m delighted.
The fundraising of ALTERNATIVE, a Luxembourg-based securitization fund managed by microfinance leader Mikro Kapital (https://mikrokapital.com), officially closed earlier this week. ALT2612 is the first tokenized bond in the microcredit industry and one of the first tokenized bonds in the world. Mikro Kapital’s deep expertise in traditional bond issuance paved the way for the debut issuance of ALT2612, a tokenized bond with a maturity of 36 months with a 10% coupon denominated in USDt.
Mikro Kapital, a leader in the microfinance industry, has a highly diversified loan book of 300,000 borrowers across 14 countries with a total value of over €1 billion.
The bonds were issued on the Liquid Network, a sidechain on the Bitcoin blockchain built specifically for the issuance of assets such as regulated security token offerings. With the ability to enforce transfer restrictions and create whitelists, the Liquid securities token offering allows issuers to meet their regulatory obligations while also allowing investors to self-storage, withdraw, and peer-to-peer trade securities.
Jesse Knutson, Head of Operations at Bitfinex Securities, commented on this landmark event:, “This proof-of-concept issuance is a testament to the spirit of innovation and collaborative efforts between Bitfinex Securities and Mikro Kapital. We are excited to continue working with Mikro Kapital and support their future tokenized bond issuances.”
Earlier this quarter, Mikro Kapital and Bitfinex Securities agreed to explore both asset tokenization and the use of USD-backed Tether tokens (USDt) and Euro-backed Tether tokens (EURt) within the microfinance industry.
This strategic collaboration between Bitfinex Securities and Mikro Kapital demonstrates the commitment of both companies to innovation and joint growth in the microfinance sector and to providing new forms of finance to this industry.
Paolo Adoino, CEO of Tether and CTO of Bitfinex Securities, said:: “This proof of concept is more than just fundraising. This is an important step forward in integrating USDt into the microfinance industry. Our ongoing mission is to bridge the gap between traditional and cryptocurrency investors and educate them on the mutual benefits of high-quality securities and tokenization. Mikro Kapital’s role in this effort is essential.”
Mikro Kapital is interested in expanding the adoption and real-world use of cryptocurrencies in the different jurisdictions in which they operate, as well as engaging in dialogue with institutional investors.
Vincenzo Trani, President and Founder of Micro Capital, said:: ” The success of the first tokenized bond issuance was made possible thanks to Bitfinex Securities’ ongoing technical support and extensive investor network. We are excited to be pioneers in introducing cryptocurrency to the world of microfinance. This will allow us to respond efficiently and quickly to the needs of small entrepreneurs.”
Introduction to Bitfinex Securities
With a registered and licensed entity in AIFC and El Salvador, Bitfinex Securities provides a regulated and efficient global solution for the issuance and secondary market trading of tokenized securities. Bitfinex Securities proudly holds the distinction of being the first global digital asset platform licensed and registered with the AIFC and the first global digital asset platform to be licensed under El Salvador’s new digital asset regime.
Bitfinex Securities Media Contact
(email protected)
About Mikro Kapital
Founded in Luxembourg in 2008, Mikro Kapital focuses on impact finance and microfinance and operates a Luxembourg securitized fund that invests in low-risk, high-credit small and medium-sized enterprises in emerging countries.
Media contacts for Mikro Kapital:
(email protected)