Bitfinex Securities launches first tokenized Treasury bills under El Salvador’s law

Tokenized Treasury bills are expected to yield 5.0% annually, offering secure access through Bitcoin’s Liquid Network

Photo: Bitfinex

Key Takeaways

• Bitfinex Securities launches tokenized US Treasury bills under El Salvador law.
• The offering utilizes Bitcoin technology for regulated digital asset exposure.

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Bitfinex Securities, in partnership with NexBridge, has launched USTBL, the first regulated tokenized US Treasury bills under El Salvador’s pioneering digital asset framework.

The initial offering, running from Nov. 19 to Nov. 29, aims to raise a minimum of $30 million.

The token will provide investors exposure to short-term US T-bills denominated in US dollars, with an expected yield of 5.0% per annum to maturity.

Built on the Liquid Network, a Bitcoin layer-2 solution provided by Blockstream, the offering marks the “first regulated offering” of tokenized US Treasury exposure using Bitcoin technology, according to Bitfinex Securities.

“By leveraging Bitcoin’s technology and infrastructure, we’re laying the foundation for a globally accessible financial ecosystem,” said Michele Crivelli, Founder of NexBridge.

Investments will initially be available using Tether’s USDT stablecoin, with Bitcoin payments to be added later. After the subscription period, the token will be available for secondary market trading on Bitfinex Securities.

“Bitfinex Securities is proud to collaborate with NexBridge on the first regulated public offering of tokenized U.S. Treasury Bills in El Salvador,” said Jesse Knutson, Head of Operations at Bitfinex Securities.

The offering follows El Salvador’s passage of its Digital Assets Securities Law in January 2023, under which Bitfinex Securities secured a local license in April 2023.

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