Bitfinex Securities raises $50 million in push to offer tokenized nickel trading

Bitfinex Securities, the tokenized-assets trading platform linked to cryptocurrency exchange Bitfinex, is offering investors access to blockchain-based representations of high-purity nickel wire.

The company is preparing to list a new security, ALKN, linked to a Luxembourg-based industrial metals platform built around a $1.6 billion stockpile, or 7 million meters, of the wire, which is used across the semiconductor, aerospace, defense and other industries. The wire is held in custody in Switzerland, according to a press release on Thursday.

Traditional assets like gold, oil and stocks are increasingly moving onchain with 24/7 trading, and the markets are adapting. Oil markets have seen more activity in perpetual-style contracts on venues such as Hyperliquid, where trading continues outside traditional exchange hours.

To get the ball rolling, Bitfinex Securities announced a $50 million tokenized capital raise for Alkemya Metacore, a Luxembourg-based investment and operating platform focused on the industrial development, commercialization and financial structuring of high-technology metals.

The blockchain-based structure takes the nickel, a metal that is typically trapped in industrial supply chains, and wraps it into a tradable financial product, unlocking collateral use cases and continuous hedging for traders, a representative for Bitfinex Securities said via email.