Bitfinex's $5.2M Raise | Tokenized Bond Venture with Mikro Kapital

Bitfinex Securities Ltd. recently completed a funding round, securing $5.2 million in USDT through its tokenized bond ALT2612. The Luxembourg-based securitization fund, ALTERNATIVE, managed by Mikro Kapital, facilitated this capital raise, as stated by the company in a release today.

ALT2612, a bond issued on the Liquid Network, a Bitcoin blockchain side-chain, is specifically designed for security token offerings. Bitfinex Securities, the securities division of the crypto exchange Bitfinex, hailed this achievement as a testament to innovation within the microfinancing sector.

Paolo Ardoino, serving as the Tether CEO and Bitfinex Securities CTO, conveyed that the development transcends fundraising; it marks a substantial move toward integrating USDt into the microfinancing sector. The ongoing objective involves connecting traditional and crypto investors by educating them about the benefits of top-notch securities and tokenization. Ardoino emphasized the crucial role played by Mikro Kapital in this initiative.

In October, Bitfinex Securities unveiled plans for ALT2611, aiming to transform capital acquisition by venturing into microfinance organizations, small financial institutions, leasing companies, and banks along the historic Silk Road.

Ardoino praised this initiative as indicative of a new financial era. With a commitment to fostering liquid markets, Bitfinex Securities aims to facilitate the trading of blockchain-based bonds, stocks, and investment funds.

Bitfinex Securities enables companies to tokenize their assets, debt, and equity securities, allowing trading on exchanges using cryptocurrency-like technology, expanding the horizons of financial transactions.

ALT2611, initially priced at 100 USDT, necessitates a minimum investment threshold of 125,000 USDT, operating within Luxembourg's legal framework. Notably, this bond excludes US citizens or individuals within the US. Mikro Kapital intends to issue 100,000 securitized tokens of ALT2611 to raise 10 million USDT, according to Bitfinex.

In a parallel move, Bitfinex introduced zero-fee trading for users in Argentina, Colombia, and Venezuela in October. This offering enables users to trade digital assets at market rates without incurring fees, a significant development in the region's crypto trading landscape.

Bitfinex's action aligns with recent strategies by industry leaders like Binance.US and Binance, introducing zero-fee trading for Bitcoin and Ethereum pairs. These competitive moves aim to expand user bases and enhance the overall trading experience.