Bitfinex Securities Raises $50 Million for Tokenized Nickel
The ALKN token is tied to nickel wire held in Swiss custody and falls under El Salvador’s digital asset framework. Bitfinex Securities is targeting industrial uses in semiconductors, aviation, and defense.
Key Takeaways
- Bitfinex Securities is raising $50 million with a tokenized offering centered on high-purity nickel for Alkemya Metacore.
- The ALKN token is tied to nickel wire worth $1.6 billion, stored in Switzerland.
- The proceeds will go toward developing and commercializing nickel products; the subscription runs until October 15.
Bitfinex Securities is taking a new step in tokenized commodities with an offering centered on high-purity nickel wire. Bitfinex’s platform arm wants to give investors access to ALKN, a security tied to a Luxembourg industrial metals platform with a $1.6 billion (€1.4 billion) stockpile of nickel wire. The wire is held in custody in Switzerland.
New Token for Nickel
The company is announcing a tokenized capital raise of $50 million (€42.8 million) for Alkemya Metacore, a Luxembourg investment and operating platform focused on the industrial development, commercialization, and financial structuring of high-tech metals. According to Bitfinex Securities, the underlying nickel supply is used in sectors like semiconductors, aviation, defense, and other industrial applications.
Bitfinex Securities says the blockchain structure of the product turns a metal that is normally locked up in industrial supply chains into a tradable financial product. That should make things like collateral use and ongoing hedging possible for traders. Jesse Knutson, head of operations at Bitfinex Securities, called it in a statement an example of how blockchain technology can be used to bring previously hard-to-access investment products to market under strict rules.
What the Proceeds Are For
The proceeds from the offering will go toward the development and commercialization of processed nickel products through Green Transitional Metals, Alkemya’s operating subsidiary. Bitfinex Securities points to uses in EMI shielding, aviation and defense, semiconductors, energy and industrial systems, green hydrogen, and the recovery of rare and precious metals.
The ALKN token will be available for primary subscription until October 15 for eligible investors. Bitfinex Securities calls it one of the world’s first tokenized nickel products and at the same time the first tokenized commodity offering under El Salvador’s digital asset framework.
Why This Matters
For European crypto readers, this deal shows that tokenized commodities are moving beyond gold and other precious metals. The market for tokenized commodities has grown sharply in recent months, especially because of tokens tied to gold. That makes the move into industrial metals like nickel relevant, because products like this can appeal to a different group of investors and serve a different use case than classic crypto or gold tokens. The broader tokenized asset market is also growing in other segments; for example, the RWA market recently showed that the sector is expanding, even though on-chain activity is still limited.
