Bitcoin Suisse, Switzerland’s largest crypto custodian, which recently surpassed CHF 5 billion in assets under custody, has issued a tokenized bond through Obligate to raise new capital, which it will use to expand its domestic lending business.
Established in 2013, Bitcoin Suisse has been a driving force in shaping Switzerland’s crypto landscape. It currently offers brokerage, custody, lending, staking, and other crypto-related services for private and institutional clients.
Obligate AG, known for its robust regulatory compliance and secure blockchain-based platform, facilitated the issuance, marking a milestone in institutional adoption within on-chain capital markets. The bond issuance, overcollateralized to provide an additional layer of security, signifies a strategic step toward broadening the scope of tokenized real-world assets within the FinTech ecosystem.
Stephan D. Meyer, Co-Founder and CLO at Obligate, emphasized the empowerment of institutional-grade brokers and custodians like Bitcoin Suisse through this collaboration, enabling them to leverage advanced blockchain technology and collateralization capabilities for enhanced efficiency and security.
The investment-grade bond, featuring conservative Loan-to-Value (LTV) ratios and utilizing USDC for settlement, highlights the transaction’s commitment to robust risk management and streamlined processes.
Moreover, the issuance attracted interest from qualified investors with Obligate, reflecting confidence in the platform’s reliability and Bitcoin Suisse’s solid financial standing.
“The milestone of issuing this tokenized bond reinforces our pioneering role in the industry and reflects the trust investors place in Bitcoin Suisse, its financials and its business model,” Bitcoin Suisse Treasury Head, Sandro Huwyler said in a statement.
The funds raised from the issuance will be directed toward the growth of Bitcoin Suisse’s domestic lending business and to address the growing demand of our clients.
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