Bitfinex Securities Launches Tokenized US Treasury Bonds in El Salvador

The Salvadoran arm of capital markets trading platform Bitfinex Securities has announced the launch of tokenized US Treasury bills to be issued by NexBridge Digital, another digital asset issuer based in the country.

According to a press release sent to CryptoPotato, Bitfinex claims that the tokenized offerings are the first to be launched under El Salvador’s new securities licensing regime.

Bitfinex Launches Tokenized Treasury Bills

The token will give investors exposure to short-term US Treasuries dominated by the dollar. Bitfinex disclosed that it will allocate the proceeds of the issue to the iShares $ Treasury Bond 0-1yr UCITS ETF. The exchange-traded fund (ETF) tracks the investment performance of an index that includes USD-denominated bonds issued by the US Treasury with remaining maturities between zero and one year.

The initial subscription period for Bitfinex’s offering will run from November 19 to 29, as the company seeks to raise a minimum of $30 million to proceed with the product issuance. Thereafter, the company intends to open additional subscription windows on a regular basis, with investments initially available in Tether (USDT) and later available in bitcoin (BTC).

NexBridge CEO Nicolas Cane said: “Our vision is to create an interconnected environment where traditional assets and blockchain technology come together seamlessly, fostering a transparent and efficient financial ecosystem for investors around the world. We are delighted to partner with Bitfinex Securities, whose support and infrastructure have been instrumental in bringing this pioneering project to market, further consolidating El Salvador as a leader in digital financial innovation.”

Development of El Salvador’s tokenized securities industry

In addition, Bitfinex Securities will list the token on its secondary market under the ticker symbol USTBL after the initial subscription period. The asset will begin trading in USDT, providing access to Treasury bill investment opportunities for market participants who have been unable to access the products.

“This issuance represents an important step in financial technology by merging the safety of government-backed securities with the adaptability and efficiency of digital assets. The inclusion of USTBL tokens in investment portfolios will allow investors to balance exposure to digital assets with the stability of traditional finance, offering a new level of diversification that can help reduce overall portfolio risk,” said Jesse Knutson, Chief Operating Officer of Bitfinex Securities.

Bitfinex’s launch of USTBL is part of the company’s efforts to develop a tokenized securities industry in El Salvador as the country embraces innovation that combines the stability of US Treasury bills with the efficiency of blockchain technology.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

LIMITED OFFER for CryptoPotato readers on Bybit – Use this link to register and open a FREE $500 position with any currency!