Bitfinex Breaks Ground with ALT2611 Tokenized Bond Offering 10%

• Bitfinex Securities has announced the launch of its tokenized bond, ALT2611.
• The bond will offer investors a 36-month tenure with a 10 percent coupon, denominated in Tether (USDT).

Bitfinex has launched a new product that aims to boost the development of microfinance institutions. Bitfinex Securities has announced the launch of its first tokenized bond. Dubbed Alternative (ALT2611), the bond will be issued by global microfinance leader Mikro Kapital. The product is expected to launch in 19 days officially.

The platform will offer access to a range of financial instruments, notably blockchain-based bonds, stocks, and investment funds. According to the official website;

ALTERNATIVE primarily acquires risks connected to debt and equity of micro-financing companies, small financial institutions, leasing companies, banks or credit cooperatives granting access to financing services to micro-, small- and medium-sized enterprises and entrepreneurs in Italy, Romania, Moldova and in emerging countries along the Silk Road.

The site further shows there will be a 10 percent annual yield with coupons paid quarterly in USDT. The security price will be 100 USDT and the minimum investment amount is 125,000 USDT. The bond will be offered on a first-come, first-served and will mature in 3 years after issuance. Participants from the U.S. are excluded as well as other regions where its distribution might breach legal boundaries.

Launched in 2012, Bitfinex prides itself on being the longest-running and most liquid major cryptocurrency exchange. Its reputation guarantees that the new product will meet great demand in the financial sector. Furthermore, the new product sets a new precedent by integrating blockchain’s transparency with tried-and-tested security trading. This product further embraces a new investment avenue that is viewed as inaccessible, transparent, and secure.

Discussing the key strengths of the investment bond, the company highlighted simplicity and stable income, annual coupon yielding from 7 percent up to 11 percent, low duration risk, low default rate, low correlation with macro-economic factors, currency risk hedged, attractive risk premia, high capitalization ratio, and bond structure.

The newly appointed Tether CEO and Bitfinex co-founder Paolo Ardoino called this a new era for capital raises through deep liquid markets and stock/fond markets. He further proclaimed that USDT would become the underlying denomination asset of the new financial ecosystem.

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.

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Furthermore $USDt will become the underlying denomination asset of this new financial ecosystem.

And yes. It leverages… https://t.co/ekXj3gY7Xj

— Paolo Ardoino (@paoloardoino) October 25, 2023

Earlier this year, Bitfinex and USDT stablecoin issuer (Tether) announced the launch of Keet, a video chat application. Thus, marking their foray into the social media world. Bitfinex, Tether, collaborated withHypercore (a peer-to-peer data network) to launch the fully encrypted Keet app.

Read More: Tether and Bitfinex launch a P2P video chat app, here’s why

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