Bitfinex's Tokenized Bond Fails to Meet Investment Targets

Bitfinex's new tokenized bond, Tether USDT, has reportedly failed to attract the expected investment and interest. The platform, Bitfinex Securities, launched its first tokenized bond, the ALT2611 Tokenized Bond, in October, with the product going live on Nov. 15. However, after a two-week offer period, only $1.5 million of the $10 million target has been raised. The target of 100,000 ALT2611 worth 10 million USDT was set for two weeks after the launch but has been extended for another two weeks. The bond is a 36-month 10% coupon bond denominated in USDT and issued by Alternative, a Luxembourg-based securitization fund. It is not available to American citizens or persons in the US. Tokenized bonds offer advantages such as liquidity, accessibility, security, transparency, and 24/7 trading. Bitfinex has not yet responded to inquiries about the lackluster performance.

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