Coinspeaker El Salvador’s NexBridge Closes $30 Million Tokenized US Treasury Bill Offering
On Wednesday, December 4, NexBridge, an El Salvador-based digital asset issuer, successfully closed its $30 million offering of the United States Treasury bill-backed tokens known as USTBL. This closure represents the first regulated public offering of tokenized US Treasuries, providing a new way for investors to gain exposure to government-backed securities through blockchain technology.
According to NexBridge, the $30 million deal was executed through Bitfinex Securities, a platform under Tether, the issuer of the world’s largest stablecoin, USDT $1.00 24h volatility: 0.1% Market cap: $135.42 B Vol. 24h: $193.66 B . The offering was launched just two weeks ago on November 19. At the time, NexBridge said it was designed to provide more liquidity and efficiency than traditional securities while making US Treasury bills accessible to a broader range of global investors.
A Unique Offering Built on Bitcoin Technology
The new digitized securities are integrated into the Bitcoin blockchain through the Liquid Network, a layer-2 blockchain protocol designed to enable faster, secure transactions on the network. USTBL combines the reliability of US Treasury bills with the benefits of blockchain, such as faster settlement times and greater liquidity.
The use of blockchain technology enhances USTBL’s liquidity, making it easier for investors to buy and sell these assets, which were traditionally seen as less liquid.
Michele Crivelli, founder of NexBridge, emphasized how this innovation opens up new possibilities for investors.
“We are offering a traditional financial product, US Treasuries, through a digital framework that makes it more accessible and efficient for global investors,” Crivelli said.
Fully Regulated and Compliant with El Salvador’s Laws
NexBridge said that USTBL complies with El Salvador’s digital asset laws. Thanks to the country’s crypto-friendly nature, El Salvador has one of the clearest regulatory frameworks for tokenized financial assets.
Crivelli explained how the regulatory alignment adds security to the offering. “By complying with El Salvador’s regulations, we ensure that USTBL is a fully compliant digital asset while also offering investors the advantages of blockchain’s decentralized nature.”
A Flexible Redemption Process for Investors
NexBridge said the offering is already available for trading on secondary markets. However, redemption options will be available starting in March 2025. Crivelli shared that the platform will introduce dynamic redemptions, allowing investors to manage their holdings more effectively.
“We plan to offer multiple redemption mechanisms,” he said. “The first will be through the exchanges where USTBL is available, but we also plan to offer dynamic redemptions that allow for real-time access to liquidity.”
While USTBL’s initial offering successfully raised $30 million, NexBridge has larger plans. The company plans to issue up to $200 million worth of tokenized US Treasury securities, giving investors proportional shares of the assets under management.
The deal comes as tokenized US Treasury bills are gaining traction in the digital asset space. This year, major players like BlackRock and Franklin Templeton entered the market with tokenized Treasury products. For example, BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has already amassed over $447 million in assets.
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El Salvador’s NexBridge Closes $30 Million Tokenized US Treasury Bill Offering