Bitfinex Securities Launches Tokenized US Treasury Bills

• The offering includes the issuance of a new token by NexBridge Digital Financial Solutions.
• Bitfinex Securities’ initial offering will begin on November 19 and expire on November 29.

Tokenized US Treasury bills (T-bills) are making their debut in a tokenized public offering within El Salvador’s legal framework, thanks to Bitfinex Securities, a digital securities exchange and sister business of stablecoin issuer Tether.

The offering includes the issuance of a new token by NexBridge Digital Financial Solutions, a digital asset issuer located in El Salvador. This token will be traded under the ticker USTBL. Token holders will have access to dollar-denominated short-term US T-bills.

Banking on Tokenization

Moreover, Bitfinex Securities’ initial offering will begin on November 19 and expire on November 29. With the goal of obtaining $30 million to go forward with the token issuance. Also, Bitfinex Securities claims this transaction to be the “first regulated offering” of Bitcoin-based tokenized US Treasury exposure.

This new token is anticipated to earn 5.02% per year till maturity. And is issued on the Liquid Network, a prominent Bitcoin layer-2 (L2) solution.

One publicly traded exchange-traded fund (ETF) that will get the funds from the sale is the iShares $Treasury Bond 0-1yr UCITS ETF. This fund aims to mimic the performance of an index that tracks US dollar-denominated government bonds issued by the US Treasury.

Furthermore, investors will be able to purchase tokens using Tether’s $USDT stablecoin in the beginning. And thereafter Bitcoin, as stated in the release. Bitfinex Securities’ secondary market will list the token for trade under the ticker USTBL when the first subscription period ends. And trading will be conducted in $USDT.

Among the new token’s anticipated features, according to a representative from Bitfinex Securities, are yields to maturity, quick settlement, the ability to withdraw funds to whitelisted wallets, and OTC trading.

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