Bitfinex Securities announced the completion of a $50 million tokenized capital raise for Alkemya, a Luxembourg-based industrial metals platform. The offering, structured around the ALKN token, represents a major expansion of tokenized real-world assets into the industrial metals sector.
A new class of tokenized commodity
The ALKN token gives investors fractional, digitally transferable interests in Alkemya Metacore SCSp, a Luxembourg partnership that owns approximately 7 million meters of high-purity nickel wire stored in Switzerland.
The nickel, 99.99 percent pure and widely used in semiconductors, aerospace, and defense, has been independently valued at roughly $1.64 billion.
How the offering works
ALKN is Alkemya’s first tokenization project. The tokenized security provides investors with exposure to the underlying nickel assets without requiring direct ownership of the physical metal.
Basically, this design lets Alkemya pull together some cash using the nickel they already have, all without having to sell off their entire supply.
The proceeds from this deal are going toward getting their engineered nickel products ready for the market, especially for things like chips and industrial gear.
Additional ALKN tokens will remain available to eligible investors through Bitfinex Securities until October 15, though secondary trading will not begin until at least the completion of the next fundraising tranche.
Regulatory framework and platform growth
The offering operates under Bitfinex Securities’ regulated structure, including its license under El Salvador’s National Commission of Digital Assets.
The platform is now listed in El Salvador’s Digital Asset Registry under PSAD-0001, thus making ALKN the first tokenized commodity issued under El Salvador’s digital asset framework.
This $50 million raise is a new record for Bitfinex Securities, beating their old $30 million run for U.S. Treasury Bills, or USTBL, a tokenized U.S. Treasury product. They have now done seven capital raises and listed 16 assets since starting.
Alkemya’s long-term play: Tokenizing the entire nickel program
The $50 million raise represents just 6.25 percent of Alkemya’s planned 800 million ALKN token program. Also, the company structured the Luxembourg partnership with CMS Luxembourg approximately five months ago, authorizing up to 800 million tokens at a $1 nominal value each, representing up to $800 million in potential offerings.
This first tranche, while record-setting for Bitfinex Securities, is a modest first step. Proceeds will fund Alkemya’s subsidiary Green Transitional Metals, which is developing nickel products for electromagnetic shielding, aerospace, defense, semiconductor manufacturing, green hydrogen, and precious metals recovery.
Additional ALKN tokens remain available to eligible investors through October 15.
