Bitcoin Suisse issues tokenized bond on Obligate to raise fresh capital

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As an analyst with extensive experience in the fintech and crypto industry, I’m impressed by Bitcoin Suisse’s latest move to issue a tokenized bond via Obligate. This strategic decision reflects the company’s commitment to bridging the gap between traditional finance and decentralized technology.

Swiss cryptocurrency custodian Bitcoin Suisse has utilized Obligate, a platform, to issue tokenized bonds as part of an expansion strategy to bolster its activities in the lending sector.

Bitcoin Suisse, the leading cryptocurrency custodian based in Switzerland with assets worth over $5.5 billion, has successfully raised additional funds through the issuance of a tokenized bond on Obligate, an innovative digital capital markets platform.

Based on information from a press announcement obtained by crypto.news, an investment-grade bond has been introduced with collateral exceeding its value. Circle’s USD Coin (USDC) serves as the currency for settling transactions in this issuance. The execution of the bonds against the stablecoin took place through atomic settlement.

The head of treasury at Bitcoin Suisse, Sandro Huwyler, announced that the funds raised from the sale of the new bond will strengthen our lending business expansion and aid in satisfying the increasing demands of our clients.

As a dedicated crypto investor, I’m thrilled to be part of Bitcoin Suisse’s groundbreaking journey in bridging the divide between conventional finance and innovative decentralized technology. Our recent achievement in issuing a tokenized bond is a testament to our pioneering role within the industry and a reflection of the unwavering trust placed in Bitcoin Suisse by investors, our financial stability, and our business model.

Sandro Huwyler

According to Obligate’s co-founder Stephan D. Meyer, the bond tokenization platform aims to enable institutional brokers and custodians such as Bitcoin Suisse, which manage vast assets, to utilize our superior blockchain technology, solid legal framework, and collateralization features.

Established in 2013 by Niklas Nikolajsen, Bitcoin Suisse specializes in providing cold storage solutions for institutional investors in the crypto sector. In the year 2020, this Switzerland-based company based in Zug successfully secured CHF 45 million (approximately $50 million) during its Series A funding round from a mix of Swiss and international investors. Notable backers included Roger Studer, a former investment banking head at Bank Vontobel, and Tobias Reichmuth, a renowned Swiss banker.

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2024-06-11 16:05