Bitfinex Securities announces $50 million raise for tokenized nickel platform
The offering is among the first tokenized nickel products globally and the first tokenized commodity offering available under El Salvador's digital asset regulatory framework.
Bitfinex Securities is expanding tokenized commodities into industrial metals with ALKN, a blockchain-based security backed by exposure to high-purity nickel wire valued at about $1.6 billion. Eligible investors can subscribe to ALKN through Oct. 15.
ALKN is tied to Alkemya Metacore, a Luxembourg-based investment and operating platform focused on the industrial development, commercialization and financial structuring of high-technology metals. The platform has access to a stockpile of approximately 7 million meters of nickel wire, which is held in Switzerland and serves industries including semiconductors, aerospace and defense.
Bitfinex Securities has launched a $50 million tokenized capital raise for Alkemya, with the proceeds set to support engineered nickel products through Green Transitional Metals. Planned uses include EMI shielding, semiconductor and power applications, aerospace and defense, green hydrogen, and rare and precious metals recovery.
The blockchain structure effectively converts nickel wire from an asset largely confined to industrial supply chains into a tradable financial product. Bitfinex Securities said this could create additional collateral opportunities and enable traders to hedge the commodity on a continuous basis.