Bitfinex’s recently-launched tokenized bond has not performed as well as anticipated. The bond, named ALT2611 Tokenized Bond, aimed to raise $10 million but has only managed to secure $1.5 million in funding. This represents a mere 15% of the target amount. Bitfinex Securities, the branch responsible for listing tokenized real-world assets, introduced the bond in October, and it went live on November 15.
ALT2611 is a 36-month bond denominated in USDT (Tether) and is issued by Alternative, a securitization fund based in Luxembourg and managed by Mikro Kapital. The bond was launched through Bitfinex’s platform called ALT2611 Tokenized Bond and was considered a groundbreaking opportunity for capital raises. Tokenized bonds, like ALT2611, provide advantages such as liquidity, accessibility, security, transparency, and round-the-clock trading. They are digital representations of traditional bonds issued on the blockchain.
