Bitfinex Securities, which offers listing and trading services for security tokens, has launched two new tokenised bond issues under an ongoing tokenised bond issuance programme from ALTERNATIVE, the securitisation fund of Mikro Kapital, a Luxembourg-based impact finance and microfinance group.
The bond programme will feature two different durations, each offering competitive coupon payments for investors, and will comprise an 11-month bond with a 10% coupon rate, and a 36-month bond with a 13.5% coupon rate.
Similar to Mikro Kapital’s previous tokenised bonds, this ongoing bond program will be issued on the Liquid Network, a side chain of the Bitcoin blockchain specifically designed for issuing assets such as regulated security token offerings. The Liquid Network enables issuers to enforce transfer restrictions and create whitelists, ensuring compliance with regulatory obligations while still allowing investors to self-custody, withdraw, and trade securities peer-to-peer.
Jesse Knutson, head of operations, Bitfinex, said, “By leveraging the Liquid Network, we are introducing innovative financial solutions that merge the strengths of traditional and crypto investments. We are thrilled to continue our ongoing collaboration with Mikro Kapital and support them in bringing new forms of financing to the microfinancing sector through this latest tokenised bond issuance.”
This issuance will be the first of an ongoing program to be launched monthly, and the programme has an option to be expanded to include other durations and coupons. The issuances are targeting minimum 500,000 USDt raises, with maximum sizes of USDt 10,000,000. The minimum investment size is 125,000 USDt.
Mikro Kapital’s debut tokenised bond was completed in October 2023 and successfully raised over $5.2 million in USDt, in what was the market’s first tokenised bond for microcredit. The proceeds from the latest issue will be used to invest in microfinance and sharing economy projects to support small businesses and entrepreneurs in emerging markets.
The capital raise will commence on 3 July 2024 and will close on 31 July 2024.
©Markets Media Europe 2024
