The Salvadoran platform NextBridge raised 30 million US dollars by issuing tokenized U.S. Treasury bonds

According to Cointelegraph, El Salvador's platform NextBridge has completed a $30 million token sale backed by U.S. Treasury bonds. The issuance was completed in November, with the first subscription of USTBL tokens carried out through Bitfinex Securities, a sister company of stablecoin issuer Tether. According to NextBridge, each token will correspond to a proportional share of managed assets, with a target total issuance value of $200 million in U.S. Treasury bonds.

The USTBL token is built on the Bitcoin blockchain and operates through the Layer2 protocol Liquid Network. As explained by NexBridge founder Michele Crivelli, this token can be traded on secondary markets but cannot be redeemed until March 2025. The USTBL token is governed by El Salvador's securities law and regulated by the country's National Digital Assets Committee.