Bitfinex Securities has introduced two tokenized equity offerings with a combined value of £105 million (around $143 million), according to a June 25 statement shared with CryptoSlate.
The listings, TITAN1 and TITAN2, were issued by Ctrl Alt and represent the first equity-based tokens available on the Bitfinex Securities exchange.
The Astana Financial Services Authority regulates the listings.
Jesse Knutson, Head of Operations at Bitfinex Securities, described the listings as a pivotal moment for digital finance. He emphasized that the new offerings provide broader access to alternative investments while reducing the barriers typically seen in traditional fundraising.
These claims are unsurprising considering the rise of blockchain-based securities is reshaping how investors and institutions view capital markets.
By tokenizing real-world assets like debt and equity, platforms can lower entry barriers, improve settlement times, and expand global access. Notably, research firms like McKinsey expect tokenized real-world assets to form a multi-trillion-dollar market within the next few years.
The offerings
TITAN1 is a smaller £5 million listing designed to invest in subordinate debt issued by a UK credit union. This asset will offer investors quarterly dividend payouts.
If the credit union fails to redeem the debt after the five-year term, the token’s coupon rate will increase, providing an additional incentive for long-term holders.
On the other hand, TITAN2 is a £100 million equity issuance that targets litigation financing within the UK’s motor finance industry.
It will primarily fund claims related to historical misconduct in Personal Contract Purchase (PCP) agreements, an issue flagged by the UK Financial Conduct Authority (FCA) in a January 2024 report.
The regulator’s review uncovered widespread use of unlawful practices, particularly discretionary commission arrangements used by brokers and lenders between 2007 and 2021.
Funds raised through TITAN2 will be used to process and pursue claims related to these past transactions. Investors will receive a proportional share of any successful recoveries.
The offering is structured through a private special purpose vehicle (SPV) based in Luxembourg and will be managed in collaboration with a UK law firm. TITAN2 has a three-year maturity period.
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