Bitfinex Securities has listed five tokenized products tied to four publicly traded Bitcoin treasury companies and Strategy’s STRC preferred stock.
Summary
- Five notes provide economic exposure to Strategy, Metaplanet, H100, Capital B, and STRC.
- ORO (II) issued the products with the underlying shares held by regulated custodians.
- Trading pairs include the U.S. dollar, USDT, and Bitcoin on the Liquid Network.
- Bitfinex Securities says its listed tokenized assets now exceed $500 million.
Bitfinex Securities said in a Sept. 1 announcement shared with crypto.news that the five products are the first tokenized Bitcoin treasury securities admitted to secondary trading on a regulated tokenized securities exchange.
The notes cover Strategy, Metaplanet, H100 and Capital B common stock, while a fifth product tracks the economic rights attached to Strategy’s Variable Rate Series A Perpetual Preferred Stock, known as STRC.
Issued through separate compartments of ORO (II), a Luxembourg umbrella securitization fund managed by SICOS Securities, each note is backed by shares held with regulated financial institutions. Investors receive exposure to the financial performance of the relevant stock rather than direct ownership of shares in the underlying company.
All five products were approved by El Salvador’s Comisión Nacional de Activos Digitales, or CNAD, according to the announcement. The securities were issued on Liquid Network, a Bitcoin sidechain designed to support asset issuance, settlement, and compliance controls.
Eligible investors can trade the notes against U.S. dollars, Tether’s USDT stablecoin, and Bitcoin. Bitfinex Securities said each product carries separate eligibility rules and minimum investment requirements.
Bitfinex tokenizes Strategy and Metaplanet shares
The Strategy-linked common equity note trades under the CMSTR ticker. Each note is backed by 100 shares of Strategy’s Nasdaq-listed Class A common stock and follows the economic performance of the underlying position, according to Bitfinex Securities.
A separate token, STRCst, tracks Strategy’s STRC preferred stock on a one-for-one basis. Holders receive the economic rights passed through from each underlying STRC share, including the variable cash dividend set by Strategy.
Strategy has used common stock sales, preferred securities, and debt to finance its Bitcoin treasury operations. According to recent SEC filing coverage, the company raised $333.7 million from MSTR sales between Aug. 10 and Aug. 16 but made no Bitcoin purchases during the period.
During the same week, Strategy allocated $52.4 million to STRC dividends and spent another $132.2 million buying back about 1.39 million STRC shares. Its dollar reserve reached $4.80 billion, while its Bitcoin holdings remained at 840,447 BTC as of Aug. 16.
For Metaplanet, the CMPTL note is backed by 100 common shares of the Tokyo-listed company. Metaplanet operates businesses in hotel management, investing, and Bitcoin-related consulting, while its treasury strategy has made its stock another public-market route to corporate Bitcoin exposure.
Both companies face a separate question over their place in global equity benchmarks. An August index methodology report covered an MSCI proposal that could remove Strategy and Metaplanet from its Global Investable Market Indexes if the companies fail a proposed non-operating-company test.
MSCI’s May simulation identified Strategy, Metaplanet and U.K. uranium investor Yellow Cake as possible deletions. The consultation remains open through Sept. 30, with results expected by Oct. 16 and possible implementation during the November 2026 index review.
Five notes offer fractional equity exposure
The other common-equity products track H100 Group and Capital B, two European companies that hold Bitcoin as part of their corporate strategies.
CH100 is backed by 100 common shares of Sweden-based H100 Group. The company operates across investment and health technology, including infrastructure focused on preventive health, privacy, and control over personal data.
CALCPB provides exposure to Capital B, a company listed in France under the ALCPB ticker. Each token is backed by 100 Capital B common shares. The company works in data intelligence, artificial intelligence, and decentralized technology consulting alongside its Bitcoin treasury activity.
Bitfinex Securities said tokenization allows eligible investors to buy fractional units to four decimal places. Purchases and trades can be settled using dollars, USDT, or Bitcoin, subject to the rules attached to each security.
Fractional access does not change the legal structure of the products. ORO (II) issues the notes, while the common or preferred shares supporting them remain with regulated custodians. Returns therefore depend on the economic performance and rights of the underlying securities, according to the product descriptions.
Bitfinex Securities did not disclose trading volumes, initial token prices, or the minimum investment for each product in the announcement. The platform directed investors to individual product pages for eligibility and investment requirements.
El Salvador licenses cover the tokenized listings
Bitfinex Securities operates regulated securities platforms in El Salvador and Kazakhstan’s Astana International Financial Centre. In El Salvador, CNAD regulates the five new products under the country’s digital asset framework.
A July report on Bitfinex’s Salvadoran licenses found that the group had secured local approvals covering spot trading, derivatives and tokenized securities through separate entities. CNAD’s registry lists Bitfinex Securities as PSAD-0001, with registration dating to October 2023.
Product access still depends on a customer’s location, onboarding status and eligibility. Bitfinex’s main trading platform states that U.S. persons cannot open or operate accounts, while the Sept. 1 announcement did not identify the jurisdictions in which the five notes will be offered.
For U.S. investors, two products nevertheless derive their economic value from securities issued by Nasdaq-listed Strategy. MSTR and STRC remain U.S.-issued securities subject to Strategy’s filings with the Securities and Exchange Commission, although the ORO notes are separate instruments issued in Luxembourg and regulated for listing in El Salvador.
Bitfinex Securities said equity products could add more secondary-market activity to a tokenization sector where fixed-income instruments have made up much of the available inventory. The platform attributed that view to its experience listing debt, Treasury-linked products, and other buy-and-hold securities.
Bitfinex Securities expands beyond fixed-income tokens
After adding the five treasury notes, Bitfinex Securities said it will offer 12 tokenized investment products through 27 trading pairs denominated in dollars, USDT, and Bitcoin. The platform valued all assets listed through its market at more than $500 million.
On Aug. 27, crypto.news reported a $50 million capital raise for Alkemya through ALKN, a tokenized security linked to a Luxembourg partnership holding high-purity nickel wire. The platform described the transaction as its largest completed raise, surpassing a previous $30 million record involving USTBL.
USTBL provides tokenized exposure to short-term U.S. Treasury bills. Other products available on the platform include Titan 1, subordinated debt issued by a U.K. credit union; Titan 2, which represents litigation-financing claims; and BMN2 Bitcoin mining hashrate contracts.
Alternatively, another listed product consists of microfinance bonds designed to finance small businesses and women-led companies in emerging markets. Earlier offerings also included debt linked to a planned hotel near El Salvador International Airport and a Luxembourg-issued bond denominated in USDT.
Bitfinex Securities said its upcoming secondary-market pipeline includes a tokenized gold fund designed to generate yield through a carry-trade strategy, a series of private-credit notes financing Bitcoin mining operations, and a tokenized U.S. money market fund.