Bitfinex Securities has finalized a $50 million tokenized capital raise for metals firm Alkemya, marking the platform’s largest fundraising to date. The transaction centers on ALKN, a security that gives eligible investors fractional interests in a Luxembourg partnership holding a substantial inventory of high-purity nickel wire.

Structure of the ALKN Offering

ALKN represents limited partnership interests in Alkemya Metacore SCSp. The partnership holds approximately 7 million meters of 99.99% pure nickel wire, independently valued at about $1.64 billion. The physical inventory is held in custody in Switzerland. Investors receive digital tokens that convey fractional ownership of the partnership rather than direct title to specific lengths of wire. The tokens are designed to be transferable among eligible holders.

This is Alkemya’s first tokenization initiative. It allows the company to raise capital against its existing nickel asset base without disposing of the underlying holdings. Bitfinex Securities reported that the $50 million total exceeds its previous record of $30 million, set by the USTBL tokenized short-term U.S. Treasury product. The platform has now completed seven capital raises and listed 16 assets.

Use of Proceeds and Market Access

Proceeds will support the commercialization of engineered nickel products through Alkemya’s operating subsidiary, Green Transitional Metals. Targeted applications include electromagnetic interference shielding, aerospace and defense components, semiconductors, power and industrial systems, green hydrogen, and recovery of rare and precious metals.

Additional ALKN tokens remain available for primary subscription by eligible investors until October 15. Secondary-market trading will not open until at least the completion of the next fundraising tranche. The offering is positioned as one of the first tokenized commodity products available under El Salvador’s digital asset regulatory framework.

Broader Context for Tokenized Metals

Nickel has traditionally remained within industrial supply chains and has been less accessible as a tradable financial instrument. By placing partnership interests onchain, the structure aims to enable fractional ownership, potential collateral use, and continuous hedging opportunities for market participants. The transaction expands Bitfinex Securities’ range of real-world asset offerings beyond earlier tokenized government debt and corporate financing products.

Eligible investors can still subscribe to remaining ALKN tokens through the platform until the mid-October deadline, while secondary liquidity is expected to follow the next capital tranche.