The ALT2511 bond would start trading at the price of 100 USDT and has a minimum investment threshold of 125,000 USDT.
Bitfinex Securities has revealed its plan to list its first tokenized bond – ALT2611 – next month. According to the announcement, ALT2611 is a 36-month offering that comes with a 10% coupon rate. The new bond is denominated in Tether USDT and will be issued by Mikro Kapital, a global leader in microfinance. It will also leverage Blockstream Liquid, a sidechain-based settlement network for Bitcoin (BTC).
In a tweet by Bitfinex chief technology officer Paolo Ardoino, these are exciting times for the platform signaling the beginning of a new era. He wrote:
“Exciting! This is the first bond listed on Bitfinex Securities. A new era for capital raises through deep liquid markets and stock/fond markets has begun.”
Bitfinex Securities is, by default, a platform that focuses on listing real-world tokenized securities. Its primary aim is to help issuers raise the needed capital to list their tokenized securities on a public exchange. It does this, by offering them a range of financial instruments such as blockchain-based bonds, stocks, and even investment funds.
Per Bitfinex Securities, the new bond will primarily focus on debts and equities among microfinancing enterprises in emerging economies and Silk Road nations. That is, it will operate primarily in Italy, Romania, and Moldova. Then along the historical network of Eurasian trade, which are routes that link Europe, the Middle East, and Asia together.
According to Bitfinex, the ALT2511 bond would start trading at the price of 100 USDT and has a minimum investment threshold of 125,000 USDT. Once the capital raise is completed, the security distribution will begin within the following week and will have a maturity period of three years from the day it is issued. It is also worth mentioning that the securities bond will be governed by the law of the Grand Duchy of Luxembourg.
Meanwhile, Mikro Kapital will be issuing only 100,000 securitized tokens of ALT2611. According to the official announcement, it will use that to raise 10 million USDT. However, the new bond will not be available to US citizens or investors living in the US. It will also be unavailable to investors in places where its offer or sale may be classified as unlawful.