Bitfinex Raises $5.2M via Tokenized Bond in Collaboration with Mikro Kapital

Bitfinex Securities Ltd. has raised $5.2 million worth of USDT through its tokenized bond ALT2612. This fundraising was facilitated by ALTERNATIVE, a Luxembourg-based securitization fund managed by the microfinancing company Mikro Kapital, the company noted in a statement today (Wednesday).

ALT2612 is a bond issued on Liquid Network, a side-chain based on the Bitcoin blockchain, that is tailored for security token offerings. Bitfinex Securities, the securities arm of the crypto exchange Bitfinex, has praised this achievement as a commitment to innovation within the microfinancing sector.

Bitfinex Targets Expansion in Microfinance

Paolo Ardoino, the CEO of Tether and CTO of Bitfinex Securities, mentioned: "This proof of concept is more than just fundraising; 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 tokenization. Mikro Kapital's role in this endeavor is indispensable."

In October, Bitfinex Securities revealed its plans for ALT2611, describing it as a way to revolutionize capital acquisition by delving into the space of microfinance organizations, small financial institutions, leasing companies, and banks along the historic Silk Road. Ardoino praised this initiative as a sign of a new financial era. With a commitment to creating liquid markets, Bitfinex Securities aims to facilitate the trading of blockchain-based bonds, stocks, and investment funds.

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.Furthermore $USDt will become the underlying denomination asset of this new financial ecosystem.And yes. It leverages… https://t.co/ekXj3gY7Xj

Revolutionizing Capital Acquisition

Bitfinex Securities allows companies to tokenize their goods, debt, and equity securities. This platform enables the trading of such products on exchanges using technology akin to cryptocurrencies, expanding the horizons of financial transactions.

ALT2611, initially priced at 100 USDT, requires a minimum investment threshold of 125,000 USDT. It operates under the legal framework of the Grand Duchy of Luxembourg. Notably, this bond is not available to US citizens or individuals within the US. According to Bitfinex, Mikro Kapital plans to issue 100,000 securitized tokens of ALT2611 to raise 10 million USDT.

Meanwhile, Bitfinex introduced zero-fee trading for its users in Argentina, Colombia, and Venezuela in October. This offering allows users to buy and sell digital assets at market prices without incurring fees, marking a pivotal moment in the region’s crypto trading scene.

Bitfinex’s strategy mirrors recent approaches by other industry giants like Binance.US and Binance, who have introduced similar zero-fee trading initiatives for Bitcoin and Ethereum pairs. These competitive maneuvers aim to attract a larger user base and enhance the trading experience.