Bitfinex Securities announces first tokenized bond on Liquid Network

Bitfinex Securities said Wednesday that the first tokenized bond to be issued on the Liquid Network raised over $5 million in USDT.

The tokenized security offering is a result of collaboration with microfinancing firm Mikro Kapital that manages a securitization fund named Alternative. The tokenized bond, denominated in USDT, uses the ticker ALT2612 and has a 36-month tenor with a 10% coupon.

Bitfinex's tokenized bond issuance

"This proof of concept issuance is a testament to the innovative spirit and collaborative effort between Bitfinex Securities and Mikro Kapital," Bitfinex Securities Head of Operations Jesse Knutson said.

Earlier this year, Mikro Kapital and Bitfinex Securities signed an agreement to explore both asset tokenization and the use of USDT within 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," Tether CEO Paolo Adoino said.

The Liquid Network, a sidechain of the Bitcoin blockchain, is able to deploy multiple types of tokenized assets, including stablecoins, security tokens and digital collectibles.