The post Bitfinex Securities Launches Tokenized US Treasury Bills in El Salvador appeared on BitcoinEthereumNews.com.

The El Salvadoran arm of the capital markets trading platform Bitfinex Securities has announced the launch of tokenized United States 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 the tokenized offerings are the first-ever 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 U.S. Treasury bills dominated by the dollar. Bitfinex revealed that it will allocate the proceeds of the issuance to the iShares $ Treasury Bond 0-1yr UCITS ETF. The exchange-traded fund (ETF) tracks the investment results of an index comprising USD-denominated bonds issued by the U.S. Treasury with remaining maturities between zero and one year. The Bitfinex offering’s initial subscription period will last from November 19 to 29 as the company looks to raise a minimum of $30 million to proceed with issuing the product. Afterward, the firm intends to open additional subscription windows regularly, 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 worldwide. We are excited to partner with Bitfinex Securities, whose support and infrastructure have been instrumental in bringing this pioneering project to market, further establishing El Salvador as a leader in digital financial innovation.” Developing El Salvador’s Tokenized Securities Industry Furthermore, 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 bills investment opportunities for market participants who have been unable to access the products. “This…

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Filed under: News - @ November 19, 2024 3:20 pm