The article has been updated with information provided by Bitfinex Securities. Bitfinex Securities has completed a record $50 million tokenized capital raise for metals company Alkemya through a security backed by partnership interests tied to an independently valued $1.64 billion nickel asset base. Summary Bitfinex Securities completed a record $50 million capital raise for Alkemya through its ALKN tokenized security. ALKN represents fractional interests in a Luxembourg partnership holding nickel wire independently valued at about $1.64 billion. Alkemya plans to use the proceeds to commercialize engineered nickel products for applications including semiconductors. Additional ALKN tokens will remain available to eligible investors until Oct. 15, while ALKN is already available for trading on Bitfinex Securities. Bitfinex Securities and Alkemya said in an announcement on Thursday that the fundraising involved ALKN, a tokenized security representing limited partnership interests in Luxembourg-based Alkemya Metacore SCSp. The partnership owns about 7 million meters of 99.99% pure nickel wire, according to the companies. Its nickel holdings have been independently valued at about $1.64 billion, according to the companies, while ALKN represents limited partnership interests tied to the asset. For Bitfinex Securities, the $50 million total is the largest capital raise completed on its platform. The company said in the announcement that its previous record stood at $30 million and involved USTBL, a tokenized product linked to short-term U.S. Treasuries. Bitfinex Securities sets a new $50 million fundraising record Following the Alkemya transaction, Bitfinex Securities has now completed seven capital raises and listed 16 assets, according to figures provided by the platform. ALKN is also Alkemya’s first tokenization project, an Alkemya spokesperson said in the announcement. Under the structure, eligible investors receive fractional interests in Alkemya Metacore SCSp in digital form, with the tokens designed to be transferable between eligible holders. Proceeds from the offering will be used to support the commercialization of high-purity nickel products through Alkemya’s Singapore-based operating subsidiary, Green Transitional Metals Pte Ltd. Proceeds will be used to commercialize high-purity nickel products through its Singapore-based operating subsidiary, Green Transitional Metals Pte Ltd. Planned applications include semiconductors, electromagnetic interference shielding, aerospace and defense, power systems, green hydrogen, and rare and precious metals recovery. Investors who did not participate in the completed $50 million raise will still have access to additional ALKN tokens. Bitfinex Securities plans to keep the offering open to eligible investors until Oct. 15 as Alkemya proceeds with another fundraising tranche. Following the initial $50 million capital raise, ALKN tokens are available for trading on Bitfinex Securities for eligible investors. Additional ALKN tokens also remain available as part of the offering. ALKN gives investors fractional interests in the nickel partnership The ALKN structure places the legal investment interest in the Luxembourg partnership onchain while the underlying physical asset remains the nickel inventory held through Alkemya Metacore. Each token represents an interest in the limited partnership instead of direct ownership of individual sections of nickel wire. Alkemya said the digital structure allows those partnership interests to be divided into fractional holdings and transferred electronically among eligible investors. The transaction also comes as tokenized commodities have expanded beyond precious-metal products. In April, crypto.news reported that the value of tokenized commodities and equities had moved above $7 billion, with gold-backed products accounting for a large part of the market while tokenized oil, gas and agricultural assets were also gaining activity. The same report cited Bitfinex research that put the tokenized commodity market at roughly $7 billion after an increase of nearly 600% since early 2025. Bitfinex said tokenized commodities were increasingly being used as onchain collateral across centralized platforms and decentralized finance protocols. Earlier Bitfinex Securities offerings included Treasuries and debt Before the Alkemya transaction, Bitfinex Securities had used its infrastructure for tokenized government debt exposure, corporate financing and other securities. Crypto.news previously reported in November 2024 that the platform had launched a tokenized U.S. Treasury offering under El Salvador’s Digital Asset Law. Issued by NexBridge Digital Financial Solutions, USTBL represented shares in the iShares $ Treasury Bond 0-1yr UCITS ETF, which tracks U.S. government debt with maturities of less than one year. The initial USTBL subscription period targeted a minimum raise of $30 million and accepted Tether’s USDT, with Bitcoin payments planned afterward. Bitfinex Securities said in the announcement in connection with the Alkemya deal that its previous fundraising record was the $30 million USTBL raise. Earlier tokenized deals on the platform included corporate debt. In April 2024, Bitfinex Securities launched a tokenized debt offering designed to raise $6.25 million for construction of a Hampton by Hilton hotel near El Salvador International Airport. The HILSV security was issued on Liquid Network, a Bitcoin sidechain, and carried a five-year term with a 10% annual return. Bitfinex Securities had also entered the tokenized bond market in 2023 with ALT2611, a 36-month security denominated in USDT and issued by a Luxembourg-based securitization fund managed by Mikro Kapital. The offering targeted $10 million and carried a 10% coupon, although early subscriptions fell below the original fundraising target. Bitfinex has built regulated operations around tokenized assets Bitfinex Securities operates regulated securities platforms in both El Salvador and the Astana International Financial Centre in Kazakhstan. The platform has also listed more than $500 million in tokenized assets, according to the company. In July, Bitfinex completed its Salvadoran license set covering spot trading, derivatives and regulated tokenized securities through separate operations. In El Salvador, Bitfinex Securities received approval under the country’s Digital Assets Issuance Law before the group completed the rest of its local licensing structure. The National Commission of Digital Assets registry lists the securities entity under PSAD-0001 with an Oct. 24, 2023 registration date, and its permitted business includes issuance and trading infrastructure for tokenized financial products. The platform’s tokenization work has also extended into distribution and infrastructure agreements. In November 2025, Tether’s Hadron tokenization platform, KraneShares and Bitfinex Securities announced a tokenized capital markets partnership under which Bitfinex Securities would provide regulated infrastructure and support access to secondary-market liquidity for tokenized products. Additional ALKN tokens remain available to eligible investors through Oct. 15, while ALKN is already available for trading on Bitfinex Securities following the initial capital raise.
