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Bitfinex Securities Revolutionizes Capital Raising with Tokenized Bond Launch

Jack Evans
Oct 25, 2023 at 09:14 pm

The Bitfinex Securities platform is set to make waves in the financial industry this November with the launch of its first-ever tokenized bond, ALT2611. Under the visionary leadership of Bitfinex's CTO, Paolo Ardoino, this tokenized bond is poised to bring about a significant shift in the way capital is raised and traded in the modern financial landscape.

ALT2611, a 36-month 10 percent coupon bond, is denominated in US dollars and issued by Mikro Kapital, one of the world's foremost players in microfinance. What sets ALT2611 apart is its ability to absorb the risks associated with the debt and capital of microfinance organizations, small financial institutions, leasing companies, and banks across various countries, including Italy, Romania, Moldova, and other developing nations within the Silk Road region.

Ardoino envisions the tokenized bond's debut on the securities platform as the dawning of a new era, one that allows for the efficient raising of capital through highly liquid and equity/fund markets. It's not just a bond; it's a financial innovation that promises to reshape how businesses and investors interact.

The ALT2611 tokenized bond is set to enter the market at a price of 100 USDT, with a minimum investment requirement of 125,000 USDT. Upon the successful completion of the capital-raising process, the distribution of these securities will commence, with a maturity period of three years from the date of issue. Notably, the Security Note will be governed by and aligned with the laws of the Grand Duchy of Luxembourg.

Bitfinex has announced that Mikro Kapital plans to issue 100,000 securitized ALT2611 tokens with the ambitious goal of raising 10 million USDT. However, it's crucial to note that ALT2611 will not be accessible to U.S. persons or individuals located within the United States or any other jurisdiction where offering or selling would be considered unlawful.

This move by Bitfinex Securities comes on the heels of a significant development earlier this month when Bitfinex's parent company offered a $150 million share buyback to customers affected by a hack in 2016. With the potential to buy back up to 9 percent of the crypto firm's outstanding capital and a total business valuation of $1.7 billion, the financial world eagerly anticipates what the future holds for this dynamic and innovative platform.

Bitfinex Securities' announcement of the upcoming tokenized bond, ALT2611, represents a bold step forward in the realm of finance. As the world continues to embrace digital innovations, the launch of this bond is a testament to the ever-evolving financial landscape and the potential for significant change in how capital is raised and traded. With Bitfinex leading the way, the future of finance is set to be both dynamic and transformative.

Read more: Crypto's Quiet Revolution: Financial Giants Secretly Embrace the Future

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