Summary
- El Salvador's platform Next Bridge has reportedly completed a 30 million dollar scale U.S. Treasury-based Toton (USTBL) sale.
- Next Bridge's growth was supported by Bitfinex Securities as the initial acquirer, with a total issuance target of 2 billion dollars.
- Totons will be traded in the secondary market, but redemption is only possible in March 2025.
El Salvador's tokenization platform Next Bridge has completed a 30 million dollar scale U.S. Treasury-based Toton (USTBL) sale. According to Cointelegraph's report on the 4th (local time), the public offering of Next Bridge's Toton sale was completed last November, with Bitfinex Securities, a subsidiary of Tether, initially acquiring the Toton. According to Next Bridge, each Toton is a fractional representation of managed assets, with a total issuance target of 2 billion dollars. Totons will be traded in the secondary market, but redemption is only possible in March 2025.
Michael Kribeli, founder of Next Bridge, stated, "We plan to offer various mechanisms for Toton redemption, including direct dynamic redemption through orders."
YM Lee
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