Soon, El Salvador will witness the first regulated offering of tokenized US Treasury bills, providing an opportunity for previously excluded individuals and institutions to access this investment tool.
NexBridge Digital Financial Solutions, a licensed digital asset issuer in the country, has partnered with Bitfinex Securities to introduce this new product.
Bitfinex Securities Expects to Raise $30 Million for Tokenized Treasury Bills
The fundraising phase for the offering starts on Tuesday and runs until November 29. Investors can use Tether (USDT) stablecoin to purchase the tokens, with plans to accept Bitcoin (BTC) in the future.
After the fundraising phase ends, the tokens will be traded on the secondary market of Bitfinex Securities. These tokens will be traded under the ticker USTBL. Their value will be pegged to BlackRock's short-term Treasury bond ETF. Bitfinex Securities aims to raise at least $30 million through this initiative.
"By leveraging Bitcoin technology and infrastructure, we are laying the foundation for a globally accessible financial ecosystem, bringing tokenized US Treasuries to investors worldwide," said Michele Crivelli, founder of NexBridge, in the announcement.
Overall, the tokenization of real-world assets (RWAs) is rapidly expanding. Earlier this month, BNB Chain launched a gateway for RWAs and private companies to simplify access for new Web3 users.
Similarly, MANTRA has launched its mainnet, enabling on-chain integration of RWAs. This has enhanced the utility of their OM Token, which has surged over 200% in November, reaching a new all-time high.
El Salvador Continues to Benefit from Its Bitcoin Holdings
El Salvador continues to make significant financial progress. The government has recently launched its third US dollar bond buyback program. This effort aims to buy back over $2.5 billion in bonds, depending on securing new financing. The decision comes after BTC reached a new all-time high following the elections.
Additionally, the second term of former US President Donald Trump could benefit the administration of President Nayib Bukele. It may improve El Salvador's chances of receiving financial support from the International Monetary Fund (IMF).
Recalling 2021, El Salvador gained global recognition as the first country to adopt Bitcoin as legal tender. Currently, the country's Bitcoin holdings are valued at around $515 million.
