- Bitfinex Securities launches USTBL, featuring a 5.02% annual yield.
- El Salvador is an expert in tokenized finance due to its revolutionary policies.
The digital securities exchange linked to Tether, Bitfinex Securities, is set to tokenize US Treasury bills, known as T-bills, which will be the first under El Salvador’s legal framework. A public offering arranged through NexBridge Digital Financial Solutions will be open from November 19 to November 29, 2024.
Blockchain Revolves the Treasury Investments
This tokenized asset, traded under the ticker USTBL, will offer investors dollar-denominated short-term T-bills. The investment is estimate to generate an annual yield of 5.02%. It is issued on the Liquid Network, a Bitcoin Layer-2 solution, and thus marks an important step towards regulated Bitcoin-based tokenized securities. Bitfinex Securities hopes to raise $30 million with it. The company will use the proceeds to purchase units in the iShares $Treasury Bond 0-1yr UCITS ETF, which tracks the performance of government bonds issued by the United States Treasury.
Investors will then be able to purchase USTBL tokens in Tether’s USDT stablecoin with later payments available in Bitcoin. After the subscription period expires, Bitfinex Securities will publicly list USTBL on its secondary market, making it available for trading in USDT. Such an offering promises quick settlement, as well as the option for OTC trading and the ability to withdraw funds to whitelisted wallets.
They are excited to partner with NexBridge for the first regulated public offering of tokenized U.S. assets. Treasury Bills in El Salvador, said Jesse Knutson, Head of Operations at Bitfinex Securities.
As mainstream acceptance of tokenized securities expands around the world, Bitfinex’s regulated offering reflects an emerging marriage between blockchain technology and traditional finance and makes for new avenues of innovative investments.
The project represents a growing synergy between blockchain technology and traditional finance while consolidating El Salvador’s position as one of the leaders in digital asset adoption. The project opens new doors for global investors seeking compliant and blockchain-enabled financial instruments, with tokenized investments set to start trading soon.
