Bitfinex Securities Lists Five Tokenized Bitcoin Treasury Company Notes

Bitfinex Securities listed five tokenized bitcoin treasury company products on Tuesday, giving eligible investors exposure to Strategy, Metaplanet, H100 Group and Capital B through equity-backed notes.

The regulated trading platform said no regulated tokenized securities exchange had previously offered secondary trading in tokenized versions of securities issued by bitcoin treasury companies.

Four of the notes are backed by 100 shares each of the underlying company: CMSTR by Strategy’s Class A common stock, CMTPL by Metaplanet, CH100 by H100 Group and CALCPB by Capital B. The fifth, STRCst, is backed one for one by a share of Strategy’s Variable Rate Series A Perpetual Preferred Stock, which pays a 12% annual dividend in cash twice a month.

The notes are issued by ORO (II), a Luxembourg umbrella securitization fund managed by SICOS Securities, with each product issued out of its own ring-fenced compartment of the fund. STOKR is the technology provider. The underlying equity sits in custody at regulated financial institutions, and note holders do not own the shares.

STRCst holders do not receive that cash. Bitfinex Securities says Strategy pays the dividend to the issuer, which deducts a payout fee of up to 5% and uses the rest to buy more STRC, then distributes additional notes to holders in proportion to what they hold. The yield arrives as more tokens.

The direct listings were approved by El Salvador’s Comisión Nacional de Activos Digitales, while ORO (II) is governed under Luxembourg’s 2004 securitization law. The notes are issued on the Liquid Network, a bitcoin sidechain, and trade against US dollars, Tether’s USDt and bitcoin in fractional units of up to four decimal places.

Secondary trading is open to eligible members of Bitfinex Securities, and wallets must be approved under the platform’s know-your-customer and anti-money-laundering rules before they can send or receive the tokens. US persons are excluded.

Bitfinex Securities said in the release announcing the listings that security tokenization “has so far been dominated by fixed-income, buy-and-hold products” and that bringing more equity products to market is “an important step in developing secondary-market liquidity for tokenised securities.”

The company said the listings take it to 12 tokenized investment products across 27 trading pairs, with total assets on the platform now above $500 million. Its pipeline includes a tokenized gold fund generating yield through a carry trade, bitcoin mining private credit notes and a tokenized US money market fund.

Related Listen: How Digital Credit Assets like STRC and SATA Differ from Bitcoin or DAT Stocks

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