Two European firms have claimed to have launched the first ever trustworthy Bitcoin (BTC) bond. The firms who have made this claim are Argento, a Luxembourg-based securitization firm, and London Block Exchange (LBX).
Both firms have partnered to issue the Bitcoin-denominated bond, which is monitored by the Financial Conduct Authority (FCA), the UK’s regulator.
Argento manager Phil Millo elaborated further on the offering: “We are thrilled to have structured and produced the world’s first institutional grade bitcoin-denominated financial product. The large investment banks really dropped the ball on this one.”
Notably, the Argento-LBX bond is the first ever crypto based investment vehicle with no fiat exposure. The crypto product, with ISIN code, is also offered via Bloomberg Terminal.
Multiple time periods of investments are available and Argento has wisely named them after crypto lingua such as ‘HODL’, ‘MOON’ and ‘FOMO.’
LBX has stated that HODLers are their prime target for the product offering. Regarding the advantage of the product, CEO Benjamin Davies said “This is an excellent product for people who currently hold bitcoin and aren’t planning to sell over the next few years…”
He further said
“Now, for the first time, they have an institutional grade way of making their wallets grow without exposing their bitcoin to the swings of the traditional ‘fiat’ currency markets.”
Earlier, the several governments across the world had informed the International Monetary Fund (IMF) that they were interested on issuing bonds linked to Bitcoin.
