CMCC Global plans to tokenize the economic interests of two funds, Crest and the Liberty Bitcoin Accumulation Fund (LBAF), using Tether’s Hadron infrastructure, with token issuance and management, distribution and secondary trading provided by Bitfinex Securities under El Salvador’s framework. Crest is denominated in U.S. dollars and aims to outperform Treasury bill yields, while the LBAF is measured in Bitcoin and advertises a target annualized net return of 8% to 12% in BTC, without guaranteeing payments to token holders. Tokens are created against corresponding fund shares and destroyed upon redemption, making them a managed investment product subject to legal and operational conditions rather than a freely transferable asset that automatically confers rights to the underlying assets. Access is limited to eligible investors subject to identity checks, anti-money-laundering requirements and a whitelist of approved addresses, while BTCS S.A. has agreed in principle to provide a Bitcoin anchor allocation whose exact size has not been disclosed. The stated issue prices are $10 per Crest token and 0.0001 BTC per LBAF token, without guaranteeing portfolio performance or uninterrupted secondary-market liquidity.
Source: Read the original article
