Bitfinex Securities raises $50 million in push to offer tokenized nickel trading

Bitfinex Securities has successfully raised a record $50 million for Alkemya, a metals company, in a tokenized capital raise. This marks the platform's largest raise yet as it expands its offerings of tokenized real-world assets (RWAs). The funds were raised through ALKN, a tokenized security representing interests in a Luxembourg-based partnership that holds nearly 7 million meters of 99.99% pure nickel wire.

The value of this nickel asset was independently assessed at around $1.64 billion. This $50 million raise surpassed Bitfinex Securities' previous record of $30 million for a tokenized US Treasury product. The platform has completed seven capital raises and listed 16 assets to date. Alkemya's spokesperson confirmed that ALKN is the company's first tokenization project, allowing investors to hold fractional, digitally transferable interests in the nickel partnership.

The company plans to use the raised funds to commercialize engineered nickel products for various applications, including semiconductors. Secondary trading of ALKN tokens will commence after the completion of the next fundraising round.