El Salvador to Get Its First Tokenized US Treasury Bill
The post El Salvador to Get Its First Tokenized US Treasury Bill appeared on BitcoinEthereumNews.com.
El Salvador will soon see its first regulated tokenized US Treasury Bill (T-Bill) offering, providing access to this investment vehicle for individuals and organizations previously excluded. NexBridge Digital Financial Solutions, a licensed digital asset issuer in the country, has partnered with Bitfinex Securities to introduce this new product. Bitfinex Securities Want to Raise $30 Million for the Tokenized T-Bill The subscription period for the offering begins Tuesday and runs until November 29. Investors can use Tether’s stablecoin (USDT) to purchase tokens, with plans to accept bitcoin (BTC) in the future. After the subscription closes, the tokens will trade on Bitfinex Securities’ secondary market. It will be traded under the ticker USTBL. The value of these tokens will be tied to BlackRock’s short-term Treasury bond ETF. Bitfinex Securities aims to raise a minimum of $30 million through this initiative. “By leveraging Bitcoin’s technology and infrastructure, we’re laying the foundation for a globally accessible financial ecosystem, bringing tokenized U.S. Treasuries to investors worldwide,” said Michele Crivelli, Founder of NexBridge in the press release. Overall, the tokenization of real-world assets (RWAs) is expanding rapidly. Earlier this month, BNB Chain launched a tokenization portal for RWAs and private companies to simplify access for new Web3 users. Similarly, MANTRA debuted its mainnet, enabling on-chain RWA integration. This boosted the utility of its OM token, which surged over 200% in November, reaching a new all-time high. Tokenized asset market cap from January 2020 to April 2024. Source: Coinbase El Salvador Continues to Benefit from Its Bitcoin Holdings El Salvador continues to push forward with significant financial developments. The government recently launched its third dollar bond buyback. This effort targets over $2.5 billion in bonds, contingent on securing new financing. The decision came after BTC reached an all-time high post-election. Also, a second term for former US President…
Filed under: News - @ November 19, 2024 11:24 pm