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

<p>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 microfinancing company Mikro
Kapital, the company noted in a statement today (Wednesday). </p><p>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.</p><p>Bitfinex Targets Expansion in Microfinance</p><p>Paolo Ardoino, the CEO of Tether and CTO of <a href="https://www.financemagnates.com/tag/bitfinex/" target="_blank" rel="follow">Bitfinex</a>
Securities, mentioned: "This proof of concept is more than just
fundraising; it's a significant stride towards integrating USDt in the
microfinancing industry. </p><p>"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."</p><p>In October, Bitfinex Securities <a href="https://www.financemagnates.com/cryptocurrency/bitfinexs-unveils-tether-denominated-bond-set-to-debut-in-november/" target="_blank" rel="follow">revealed its plans for ALT2611</a>, describing it as a way to revolutionize capital <a href="https://www.financemagnates.com/terms/a/acquisition/">acquisition</a> by
delving into the space of microfinance organizations, small financial
institutions, leasing companies, and banks along the historic Silk Road.</p><p>Ardoino lauded 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.</p><blockquote><p lang="en" dir="ltr">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 <a href="https://twitter.com/search?q=%24USDt&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDt</a> will become the underlying denomination asset of this new financial ecosystem.And yes. It leverages… <a href="https://t.co/ekXj3gY7Xj">https://t.co/ekXj3gY7Xj</a></p>— Paolo Ardoino