Bitfinex Securities has completed a record $50 million capital raise in tokenized form for the metallurgy company Alkemya. This is the largest fundraising on the platform to date, as it expands its offering of real-world asset (RWA) tokenization.
The fundraising was conducted using ALKN — a tokenized security representing an equity stake in the Luxembourg-based partnership Alkemya Metacore SCSp, the companies said in a statement shared with Cointelegraph on Thursday. The partnership owns approximately 7 million meters of 99.99% pure nickel wire, which, according to the companies, an independent valuation assessed at approximately $1.64 billion.
Bitfinex Securities told Cointelegraph that the $50 million raise surpassed its previous record of $30 million for USTBL — a US Treasury-based tokenized product issued under El Salvador's Digital Assets Law. To date, the platform has completed seven capital raise rounds and has listed 16 assets.
A representative for Alkemya stated that ALKN is the company's first tokenization project. The token provides investors with fractional equity stakes in the partnership, which can be transferred digitally, enabling Alkemya to raise capital against its nickel assets.
Alkemya plans to use the raised funds to commercialize nickel products with special characteristics, designed specifically for use in semiconductors, among other applications. Additional ALKN tokens will be available to qualified investors via Bitfinex Securities until October 15. Secondary trading will begin no earlier than the completion of the next funding tranche.
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