Bitfinex Securities has completed its largest capital raise to date, securing $50 million for Alkemya Metacore SCSp through the tokenized ALKN offering. The transaction was conducted under El Salvador’s digital asset regulatory framework and marks a significant push into tokenized real-world assets backed by physical nickel.
ALKN represents limited partnership interests in Alkemya Metacore SCSp, a Luxembourg-based investment vehicle. The partnership owns roughly 7 million meters of 99.99% pure nickel wire, an asset base independently valued at about $1.64 billion. Unlike tokenized Treasury or money-market products, ALKN gives qualified investors exposure to a commodity-related business and its underlying inventory.
The offering is not fully closed: additional ALKN tokens will remain available to eligible investors through October 15, 2026, at a minimum subscription of $120,000. Secondary trading is not expected to begin until at least the next fundraising tranche is completed. Bitfinex Securities said the token will be issued on the Liquid Network, with ownership and transfers restricted to approved participants that complete KYC/AML checks and meet professional investor requirements under relevant EU rules.
The structure includes a five-year vesting period for the release of additional ALKN tokens, intended to manage new supply entering the market. Investors may receive payouts tied to the partnership’s business, including proceeds from the sale and use of nickel-based materials. Alkemya plans to use the capital to commercialize engineered nickel products, including products aimed at semiconductor applications.
Before the ALKN raise, Bitfinex Securities’ previous record was $30 million for USTBL, a tokenized U.S. Treasury product issued under El Salvador’s Digital Asset Law. The platform has now completed seven capital raises and listed 16 assets, positioning tokenization as an alternative for issuers that traditionally rely on conventional debt or equity financing.
