Bitfinex Securities Completes Record $50 Million Tokenized Raise for Nickel-Backed Alkemya
Key Takeaways
- •Bitfinex Securities completed a $50 million tokenized capital raise for Alkemya, setting a new platform record and surpassing its previous $30 million high set by the USTBL tokenized Treasury transaction.
- •ALKN represents fractional interests in Luxembourg-domiciled Alkemya Metacore SCSp, which holds about 7 million linear meters of 99.99% pure nickel wire independently valued at roughly $1.64 billion.
- •Alkemya plans to use the raised capital to commercialize engineered nickel products, including materials intended for semiconductor manufacturing.
- •Additional ALKN tokens remain available to eligible investors through October 15, and secondary trading is not expected to begin until at least the next fundraising tranche is completed.
- •Unlike tokenized Treasury products offered by firms such as BlackRock and Franklin Templeton, ALKN's underlying value is tied to a physical commodity inventory rather than government securities.
Bitfinex Securities has completed a record $50 million tokenized capital raise for metals company Alkemya, marking the platform's largest fundraising transaction to date. The deal centers on ALKN, a tokenized security tied to limited partnership interests in Luxembourg-based Alkemya Metacore SCSp.
The transaction highlights growing interest in tokenized real-world assets backed by physical commodities. Alkemya Metacore holds approximately 7 million linear meters of 99.99% pure nickel wire. According to Bitfinex, independent valuation work placed the inventory at roughly $1.64 billion.
ALKN Links Digital Securities to Nickel
ALKN provides eligible investors with fractional interests in the partnership that holds the nickel inventory. The structure enables Alkemya to raise capital against its physical asset base while using blockchain technology to represent and transfer the investment interests. Luxembourg is one of the world's largest fund domiciles, and the special limited partnership format used for Alkemya Metacore is an established vehicle there for private capital raises, giving the tokenized interests a conventional legal wrapper.
The raise also surpasses Bitfinex Securities' previous $30 million record, set in a transaction involving USTBL, a tokenized U.S. Treasury product issued under El Salvador's digital asset framework, which was created under legislation the country passed in 2023. According to reporting on the transaction, the platform has now completed seven capital raises and listed 16 assets.
Alkemya Targets Industrial Applications
Alkemya plans to use the new capital to commercialize engineered nickel products, including materials aimed at semiconductor applications. The company's broader strategy connects tokenized finance with an industrial metals business rather than relying solely on conventional equity or debt financing. Nickel is a critical industrial metal, with demand spanning stainless steel, batteries for electric vehicles, and electronics, and semiconductor manufacturing is among the specialist uses for refined, high-purity material.
Additional ALKN tokens remain available to eligible investors through Bitfinex Securities until October 15. Secondary trading is not expected to begin until at least the completion of the next fundraising tranche.
The transaction underscores how tokenization is moving beyond digital-native assets into commodities and other real-world holdings. Traditional asset managers have already entered the field, with BlackRock and Franklin Templeton operating tokenized funds tied to U.S. money market assets, and tokenized Treasuries have become one of the largest categories of tokenized real-world assets. Unlike those Treasury-linked products, ALKN's underlying value is tied to a physical commodity inventory rather than government securities. For Bitfinex Securities, the $50 million raise establishes a new platform benchmark and strengthens its position in regulated digital securities.
