The launch of the tokenised bonds for microcredit from Mikro Kapital could not have been achieved without collaboration with Bitfinex Securities, a platform for listing and trading digitalised securities.
In addition, the partnership between the two firms involved the definition of tokenisation projects, listing and trading of debt securities, and the evaluation of the use of tether tokens linked to USD or EUR for capital raiding towards microfinance.
Each token can be exchanged or traded on Bitfinex’ securities platform in a denomination of 100 USD tokens.
Currently, Mikro Kapital has a highly diversified loan portfolio benefiting 300,000 recipients in 14 countries, with a total value of approximately €1.14bn ($1.2bn). About 40% of the beneficiaries are women entrepreneurs in local and rural communities, primarily in service businesses and agricultural enterprises.
Vincenzo Trani, president of Mikro Kapital, commented: “The desire to bring innovation to the market has guided Mikro Kapital’s activities since its inception. We were among the first to see the potential of microfinance as an asset class and to propose solutions in line with this awareness. The launch of our first tokenised bonds, made possible through collaboration with Bitfinex Securities, aligns with this vision because we believe it’s time to facilitate access to our funds for new categories of investors, more digitally inclined and eager to leverage the full potential of technologies like blockchain.”
Paolo Ardoino, CTO of Bitfinex Securities said: “The global microfinancing market is on a trajectory to more than double from 2020 to 2027. The rising demand for robust tokenised investment opportunities aligns perfectly with the expertise Mikro Kapital brings to the microfinancing arena. We envision immense potential for tokenised securities and microfinancing solutions in emerging markets.”
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Jesse Knutson, head of operations at Bitfinex Securities, added: “Given Mikro Kapital’s strong track record in traditional capital markets we are very pleased to have been chosen to help them evaluate tokenisation options. We continue to see strong demand for yield in the digital asset industry. Tokenised bonds with clearly defined issuer obligations and investor rights offer investors access to attractive yields with a risk profile much lower than what has previously been available in the digital asset industry.”