20 Dec First Tokenised Bond Raises More Than $5M USDt on Bitfinex Securities
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ASTANA, Kazakhstan, December 20, 2023 – Bitfinex Securities Ltd, (https://www.bitfinex.com/securities/), which offers listing and trading services for security tokens, is pleased to announce the successful raise of $5,200,100 USDt in one of the world’s first tokenised bond issuances.
The raise by ALTERNATIVE, a Luxembourg-based securitisation fund managed by microfinancing leader Mikro Kapital (https://mikrokapital.com), officially closed earlier this week. ALT2612 represents the first tokenised bond in the microcredit industry and one of the world’s first tokenised bonds. Mikro Kapital’s deep expertise in conventional bond issuances paved the way for their debut issue of a tokenised bond, ALT2612 which has a 36-month tenor with a 10% coupon, denominated in USDt.
Mikro Kapital, a leader in the microfinancing industry, has a highly diversified lending book of 300,000 borrowers across 14 countries worth over 1 billion euros in aggregate.
The bond was issued on the Liquid Network, a side-chain of the Bitcoin blockchain, which has been purpose-built for the issuance of assets like regulated security token offerings. Through the ability to enforce transfer restrictions and create whitelists, Liquid securities token offerings allow issuers to meet their regulatory obligations while still allowing investors the ability to self-custody, withdraw, and even trade securities peer to peer.
Jesse Knutson, Head of Operations at Bitfinex Securities commented on this landmark event, saying: “This proof of concept issuance is a testament to the innovative spirit and collaborative effort between Bitfinex Securities and Mikro Kapital. We are are excited to continue our collaboration with Mikro Kapital, and supporting them in future tokenised bond issuances.”
Earlier this quarter, Mikro Kapital and Bitfinex Securities signed an agreement to explore both asset tokenisation and the use of USD-backed Tether tokens (USDt) and Euro-backed Tether tokens (EURt) within the microfinancing industry.
This strategic collaboration between Bitfinex Securities and Mikro Kapital exemplifies both companies’ commitment to innovation and collaborative growth in the microfinancing sector, and bringing new forms of financing to this industry.
Paolo Adoino, CEO of Tether and CTO of Bitfinex Securities commented: “This proof of concept is more than just a fundraise; it’s a significant stride towards integrating USDt in the microfinancing industry. Our ongoing challenge is to bridge the gap between traditional and crypto investors, educating them about the mutual benefits of high-quality securities and tokenisation. Mikro Kapital’s role in this endeavor is indispensable.”
Mikro Kapital is interested in extending the adoption and practical use of cryptocurrencies in several of the jurisdictions where they operate and opening a dialogue with institutional investors.
Vincenzo Trani, President and founder of Mikro Kapital, stated: ” The success of our first tokenized bond issue was made possible thanks to the constant technical support and the extensive network of investors of Bitfinex Securities. We are excited to be pioneers in bringing cryptocurrency to the world of microfinance. This will allow us to respond efficiently and quickly to the needs of small entrepreneurs.”
About Bitfinex Securities
Bitfinex Securities, with entities registered and licensed in the AIFC and El Salvador, offers a regulated, efficient, and global solution for tokenised security issuances and secondary market trading. Bitfinex Securities proudly holds the distinction of being the first global digital asset platform licensed and registered in the AIFC, and the first to be licensed under El Salvador’s new Digital Asset regime.
Media Contact for Bitfinex Securities
About Mikro Kapital
Mikro Kapital, established in Luxembourg in 2008, focuses on impact finance and microfinance, and operates Luxembourg securitization funds that offer investments in low-risk, creditworthy small and medium-sized enterprises in emerging countries.
Media contacts for Mikro Kapital: