Bitfinex Securities raises $50M

• Bitfinex Securities completed a $50 million tokenised capital raise for Alkemya.
• The raise is the platform’s largest, beating its previous $30 million record.
• Alkemya will use the funds to develop nickel products for uses including semiconductors.

Bitfinex Securities completed a $50 million raise for Alkemya using the tokenised security ALKN.

ALKN represents limited partnership interests in Alkemya Metacore SCSp, which holds about seven million metres of nickel wire.

The nickel has 99.99% purity and was independently valued at about $1.64 billion, according to the companies.

The $50 million raise beats Bitfinex Securities’ previous record of $30 million for tokenised US Treasury product USTBL.

An Alkemya spokesperson said ALKN is the company’s first tokenisation project and gives investors fractional interests.

Alkemya plans to use the funds to commercialise engineered nickel products for applications including semiconductors.

Additional ALKN tokens will remain available to eligible investors until October 15, while secondary trading will wait until at least the next funding round.