Bitfinex Securities Raises $50M to Launch Tokenized Nickel Trading
Exchange prepares to list tokenized security backed by $1.6B nickel stockpile.
Bitfinex Securities has raised $50 million as it pushes to offer trading in tokenized nickel, according to a report from CoinDesk. The funding will support a planned security linked to a Luxembourg-based industrial metals platform.
The platform reportedly holds a $1.6 billion stockpile of high-purity nickel wire, which would serve as the underlying asset for the tokenized security. This marks one of the more significant attempts to bring physical commodities onto blockchain-based trading venues.
The security is expected to be listed on Bitfinex Securities, the digital asset exchange's arm for tokenized real-world assets. Specific listing dates and additional terms have not been disclosed.
Tokenized commodities have drawn increasing attention as exchanges experiment with bridging traditional finance and blockchain infrastructure. Similar efforts have targeted gold, oil, and other industrial metals in recent years.