A couple of European firms joined hands to develop what they call the world’s first genuine Bitcoin (BTC) bond. The London Block Exchange (LBX) and Luxembourg-based Argento, a firm that concentrates on securitization collaborated to introduce a Bitcoin-denominated bond in the market. The zero-fiat bitcoin bond adheres to the regulations set by the Financial Conduct Authority (FCA), UK.

Argento’s manager Phil Millo expressed his excitement regarding the world’s first institutional grade bitcoin-denominated financial product. It is particularly unique because it has no exposure to fiat. It is available to investors through the Bloomberg terminal. This is the first crypto product to get its own ISIN code. The firms are targeting long term holders for the bond’s major markets.

The new product is absolutely beneficial for the bitcoin holders who are not planning to sell it over the next few years.