Bitfinex Raises Record $50M in Tokenized Nickel Funding

Bitfinex Securities has successfully raised $50 million in tokenized capital for Alkemya Metacore, its largest capital raise to date. The funding is backed by approximately 7 million meters of 99.99%-pure nickel wire, held in Swiss custody and valued at about $1.64 billion.

The nickel wire is used in various industries such as electromagnetic shielding, aerospace parts, and semiconductor manufacturing. Alkemya's valuation of the stockpile matches an independent assessment by Edison Investment Research, which put its value at around $1.64 billion in May.

This tokenized nickel product marks a significant milestone for Bitfinex Securities, with Jesse Knutson, head of operations, stating that it demonstrates how blockchain technology can bring previously inaccessible asset classes to market within stringent regulatory guardrails.