coindesk.com
Bitfinex Securities, the tokenized-assets trading platform linked to cryptocurrency exchange Bitfinex, is offering investors access to blockchain-based representations of high-purity nickel wire.
The company is preparing to list a new security, ALKN, linked to a Luxembourg-based industrial metals platform built around a $1.6 billion stockpile, or 7 million meters, of the wire, which is used across the semiconductor, aerospace, defense and other industries. The wire is held in custody in Switzerland, according to a press release on Thursday.
Traditional assets like gold, oil and stocks are increasingly moving onchain with 24/7 trading, and the markets are adapting. Oil markets have seen more activity in perpetual-style contracts on venues such as Hyperliquid, where trading continues outside traditional exchange hours.
To get the ball rolling, Bitfinex Securities announced a $50 million tokenized capital raise for Alkemya Metacore, a Luxembourg-based investment and operating platform focused on the industrial development, commercialization and financial structuring of high-technology metals.
The blockchain-based structure takes the nickel, a metal that is typically trapped in industrial supply chains, and wraps it into a tradable financial product, unlocking collateral use cases and continuous hedging for traders, a representative for Bitfinex Securities said via email.
“Alkemya represents yet another example of how we’re using blockchain technology to bring previously inaccessible asset classes to market within stringent regulatory guardrails,” said Jesse Knutson, Bitfinex Securities’ head of operations.
The funds raised through the offering will support the development and commercialization of engineered nickel products through Alkemya’s operating subsidiary, Green Transitional Metals. Planned applications include electromagnetic interference (EMI) shielding, aerospace and defense, semiconductors, power and industrial systems, green hydrogen and rare and precious metals recovery, Bitfinex Securities said in a statement.
Alkemya’s ALKN token will be available for primary subscription to eligible investors until Oct. 15, expanding access to one of the world’s first tokenized nickel products and the first tokenized commodity offering available under El Salvador’s digital asset regulatory framework, Bitfinex Securities said.