Bitcoin Suisse utilizes Obligate to launch tokenized bond generating new funds
Switzerland’s premier cryptocurrency storage firm, **Bitcoin Suisse**, has recently amplified its lending sector’s growth trajectory by launching a tokenized bond through **Obligate**. With a formidable $5.5 billion in assets under its management, Bitcoin Suisse has effectively garnered fresh funding by venturing into the tokenized bond space on Obligate, a pioneering on-chain financial market infrastructure.
In a recent announcement circulated by crypto.news, it was revealed that the bond, which boasts an investment-grade rating, is substantially overcollateralized. It also notably adopts **Circle’s USD Coin (USDC)**, a stablecoin, as its primary medium of settlement. This strategic move was consummated through an atomic settlement process, directly exchanging the bonds for the stablecoin.
Sandro Huwyler, who helms the treasury at Bitcoin Suisse, expressed that the capital influx from this novel bond issuance is set to significantly reinforce the company’s lending operations. This strategic financial bolstering is aimed at satisfying the escalating service demands of their clientele.
In related developments, Swiss Bitcoin enthusiasts have initiated a campaign advocating for the inclusion of BTC within the National Bank’s reserve assets.
Stephan D. Meyer, a co-founder at Obligate, commented on the tokenization initiative, emphasizing the platform’s commitment to equipping institutional-level brokers and custodians, such as Bitcoin Suisse, with the ability to harness their sophisticated blockchain solutions, comprehensive legal structure, and advanced collateralization offerings.
Established in 2013 by Niklas Nikolajsen, Bitcoin Suisse has carved a niche for itself by providing top-tier crypto cold storage solutions to institutional investors. The company, headquartered in Zug, successfully secured CHF 45 million (surpassing $50 million) during its Series A funding round in 2020. This financial milestone saw contributions from a diverse group of Swiss and global investors, including notable figures like Roger Studer, the erstwhile lead of investment banking at Bank Vontobel, and esteemed Swiss financier Tobias Reichmuth.
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The Bank for International Settlements (BIS) alongside the central banks of France, Singapore, and Switzerland have recently concluded a project focusing on Central Bank Digital Currencies (CBDCs).
