First Zero Fiat ‘Bitcoin Bond’ Now Available On Bloomberg Terminal

Two major European companies have just launched the first zero fiat ‘Bitcoin bond’ – described as the world’s first genuine Bitcoin (BTC) bond. As an official press release in the latest cryptocurrency news shared on July 3 states, the news are as exciting as many believe.

We are talking about the company Argento, which is based in Luxembourg and is a securitization firm. The company has joined forces with the London Block Exchange (LBX) to issue the Bitcoin-denominated bond which is regulated under the United Kingdom and its regulator, the Financial Conduct Authority (FCA).

“We are thrilled to have structured and produced the world’s first institutional grade bitcoin-denominated financial product,” the general manager at Argento Phil Millo commented. He also added that “the large investment banks really dropped the ball on this one.”

Currently, the first zero fiat Bitcoin bond represents a first attempt in regulated cryptocurrency products. It contains no fiat exposure for investors and is readily available via Bloomberg Terminal. As many best cryptocurrency news sites noted, it is the first crypto product with its own ISIN code.

Many durations are available right now. Argento has conspiciously named them after cryptocurrency specific phenomena including ‘FOMO’, ‘HODL’ and ‘MOON’. HODLers, according to LBX, form one of the first zero fiat Bitcoin bond’s major target markets.

“This is an excellent product for people who currently hold bitcoin and aren’t planning to sell over the next few years…,” the CEO of the company Benjamin Davies added. “Now, for the first time, they have an institutional grade way of making their wallets grow without exposing their bitcoin to the swings of the traditional ‘fiat’ currency markets.”

Before this, the governments of several developing nations told the International Monetary Fund (IMF) that they were ready to issue bonds tied to Bitcoin (BTC).

The first zero fiat Bitcoin bond is definitely more than just positive news for the market. It also comes in a great time, during Bitcoin’s recovery. Right now, the most dominant cryptocurrency is trading at $11,191 in a new market-wide surge which occurred overnight. The total cryptocurrency market cap is now at $321 billion and the 24 hour volume is at $92 billion. Bitcoin’s dominance is at 62%. The altcoin news also show a lot of increases.