Bitfinex Launches 2 RWA Tokens Targeting Marginalized Communities

Heecheol Yang

Summary

Bitfinex Securities announced the launch of two real-world asset (RWA) tokens in the UK.
TITAN1 is structured to invest in Scottish community bank bonds, providing an annual dividend of 20% for up to 10 years.
TITAN2 is for funding class-action lawsuits related to automotive finance products, with investors receiving 50% of the settlement recovery.

Bitfinex Securities has launched two real-world asset (RWA) tokens in the UK, aimed at supporting members of local communities facing fundraising difficulties and victims of class action lawsuits.

According to CoinDesk on the 25th (local time), Bitfinex Securities unveiled two tokens on this day that tokenize local community bank bonds and automotive finance litigation funding: 'TITAN1' and 'TITAN2.'

TITAN1 is structured to invest in a $6.8 million (USD) subordinated bond issued by Castle Community Bank in Edinburgh, Scotland, paying investors a 20% annual dividend quarterly for up to 10 years. It is characterized by supplying capital to banks and local communities excluded from traditional finance.

TITAN2 is structured to invest $136 million in funding for class action lawsuits related to mis-selling of car finance products in the UK. The funds are provided through equity-linked bonds, and investors receive a proportional share of 50% of the recovered litigation settlement amount.

Jesse Knutson, Chief Operating Officer of Bitfinex Securities, stated, "We want to help bridge the gap between people and investors," and added, "Our goal is to support those who have difficulty securing capital."