El Salvador to Get Its First Tokenized US Treasury Bill
El Salvador will soon launch its first regulated tokenized U.S. Treasury Bill (T-Bill) product, offering individuals and organizations previously excluded access to this investment vehicle.
NexBridge Digital Financial Solutions, a licensed digital asset issuer in the country, has launched the new product in partnership with Bitfinex Securities.
Bitfinex Securities Looking to Raise $30M for Tokenized Treasury Bills
The subscription period is dedication It starts on Tuesday and runs until November 29th. Investors can use Tether Stablecoin (USDT) with plans to accept Bitcoin (BTC) in the future.
After the subscription closes, the tokens will be traded on the secondary market of Bitfinex Securities. It will trade under the ticker USTBL. The value of these tokens will be tied to BlackRock’s Treasury Bond ETF. Bitfinex Securities plans to raise at least $30 million through this move.
Michele Crivelli, founder of NexBridge, said in the media: “By leveraging Bitcoin’s technology and infrastructure, we are laying the foundation for a globally accessible financial ecosystem, bringing tokenized U.S. Treasury bonds to investors around the world.” release.
Overall, Tokenization of real-world assets (RWA) is expanding rapidly. At the beginning of this month, BNB Chain launches tokenization portal For RWAs and private companies to simplify access for new Web3 users.
Similarly, MANTRA launches mainnetrealizing on-chain RWA integration. This increases its utility About the tokenIt soared more than 200% in November, hitting a record high.
El Salvador continues to benefit from its Bitcoin holdings
El Salvador continues to advance major financial developments. The government recently introduced The third U.S. dollar bond repurchase. The effort targets more than $2.5 billion in bonds, subject to the availability of new financing. The decision comes after Bitcoin reached all-time highs following the election.
In addition, the re-election of former US President Donald Trump may be beneficial to the following countries: The government of President Nayib Bukele. This would potentially improve El Salvador’s chances of receiving financial support from the International Monetary Fund (IMF).
Back in 2021, El Salvador gained international recognition by becoming the first country to adopt Bitcoin as legal tender. the country’s Bitcoin holdings The current valuation is $515 million.
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