- Bitfinex Securities partners with NexBridge to introduce tokenized U.S. Treasury bills to El Salvador.
- USTBL uses Bitcoin technology: Liquid Network and Blockstream AMP.
- Proceeds from an initial $30 million offering are planned to be invested in the iShares Treasury Bond 0-1yr UCITS ETF.
Bitfinex Securities and NexBridge, a digital-asset issuer focused on tokenizing financial instruments, have partnered to launch the first tokenized U.S. Treasury bills in El Salvador.
The tokenized Treasury bills, branded USTBL, are built using Bitcoin infrastructure. Specifically, the issuers are leveraging the Liquid Network and Blockstream AMP, a platform for asset issuance and management that enables creation and oversight of crypto assets on Liquid.
Subscriptions for USTBL begin November 19
According to a press release, the product will open with a soft cap of $30 million and will offer investors exposure to returns from U.S. Treasury bills denominated in USD. USTBL is backed by the iShares Treasury Bond 0-1yr UCITS ETF, a short-term Treasury bond fund managed by BlackRock.
Initial subscriptions run from November 19, 2024, through November 29, 2024, after which investors will still be able to access the offering via subsequent subscription windows. Subscriptions are initially accepted in the Tether (USDT) stablecoin, with plans to add Bitcoin (BTC) support in the future.
“Including USTBL tokens in investment portfolios will allow investors to balance digital-asset exposure with the stability of traditional finance, offering a new level of diversification that can help reduce overall portfolio risk,” said Jesse Knutson, Head of Operations at Bitfinex Securities, in a statement.
Michele Crivelli, founder of NexBridge, added:
“By leveraging Bitcoin technology and infrastructure, we are building the foundation for a globally accessible financial ecosystem, making tokenized U.S. Treasury bills available to investors worldwide while maintaining full regulatory compliance.”
This launch comes amid growing interest in real-world asset (RWA) tokenization. The on-chain RWA market has expanded quickly with offerings that include funds, bonds, and loans.
According to rwa.xyz, the global on-chain RWA market currently exceeds $13 billion, with tokenized U.S. Treasury bills, bonds, and cash equivalents representing approximately $2.4 billion.