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 the microfinancing company Mikro Kapital, the company noted in a statement today (Wednesday).

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.

Bitfinex Targets Expansion in Microfinance

Paolo Ardoino, the CEO of Tether and CTO of Bitfinex Securities, mentioned: "This proof of concept is more than just fundraising; it's a significant stride towards integrating USDt in 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. Mikro Kapital's role in this endeavor is indispensable."

In October, Bitfinex Securities revealed its plans for ALT2611, describing it as a way to revolutionize capital acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term by delving into the space of microfinance organizations, small financial institutions, leasing companies, and banks along the historic Silk Road. Ardoino praised 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.

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 $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

Revolutionizing Capital Acquisition

Bitfinex Securities allows companies to tokenize their goods, debt, and equity securities. This platform enables the trading of such products on exchanges using technology akin to cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, expanding the horizons of financial transactions.

ALT2611, initially priced at 100 USDT, requires a minimum investment threshold of 125,000 USDT. It operates under the legal framework of the Grand Duchy of Luxembourg. Notably, this bond is not available to US citizens or individuals within the US. According to Bitfinex, Mikro Kapital plans to issue 100,000 securitized tokens of ALT2611 to raise 10 million USDT.

Meanwhile, Bitfinex introduced zero-fee trading for its users in Argentina, Colombia, and Venezuela in October. This offering allows users to buy and sell digital assets at market prices without incurring fees, marking a pivotal moment in the region’s crypto trading scene.

Bitfinex’s strategy mirrors recent approaches by other industry giants like Binance.US and Binance, who have introduced similar zero-fee trading initiatives for Bitcoin and Ethereum pairs. These competitive maneuvers aim to attract a larger user base and enhance the trading experience.