Customers holding tokenised US Treasuries would be able to retain Treasury yield exposure while using those holdings to support margin trades under terms described in a Bitfinex Securities press release dated October 19, 2026. The release identifies USTBL as eligible collateral, with up to 90% of its value available to support trading.
Key takeaways
- NexBridge Digital Financial Solutions S.A de C.V. is the issuer of USTBL.
- A 10% haircut leaves 90% of USTBL’s value eligible for collateral.
- Pledged holdings generate a $USDT collateral balance in the customer’s Margin Wallet.
- The arrangement combines Treasury yield exposure with margin trading.
How tokenised US Treasuries become margin collateral
The release describes USTBL as a tokenised short-term US Treasury product that Bitfinex Securities members can pledge to access the Bitfinex peer-to-peer margin trading platform. Its issuer is NexBridge Digital Financial Solutions S.A de C.V.
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Under the stated terms, a 10% collateral haircut applies to the value of pledged holdings. That leaves up to 90% available to support margin positions, subject to applicable margin requirements.
Customers initiate the process by pledging USTBL to their margin funding account. They then receive a corresponding $USDT collateral balance in their Margin Wallet, reflecting the eligible collateral value of those holdings. That balance supports margin trading activity.
Treasury yield alongside active trading
According to Bitfinex Securities, this setup lets customers keep their exposure to Treasury-backed yield while simultaneously using the same asset as collateral for margin. The stated aim is to combine yield generation, portfolio diversification and capital efficiency.
Bitfinex has offered margin trading since 2013, using a peer-to-peer, funding-market-driven model. Its existing collateral choices include Bitcoin, Ethereum, USD, the stablecoin USDt and tokenised gold through XAUt.
USTBL adds Treasury exposure to that mix. The release presents it as an option for customers seeking both yield exposure and flexibility in allocating capital to trading.
Ardoino on capital allocation
Paolo Ardoino, CTO of Bitfinex, linked USTBL’s collateral role to greater flexibility in how customers use their holdings.
“By enabling USTBL as margin collateral, we are expanding the role of tokenised US Treasuries while giving our customers greater flexibility in how they allocate capital and pursue opportunities,” Ardoino said in the release.
Licensing in Kazakhstan and El Salvador
The release states that Bitfinex Securities holds licensing and regulatory approval in the Astana International Financial Centre in Kazakhstan as well as in El Salvador.
Founded in 2021, Bitfinex Securities offers real-time settlement, round-the-clock trading capabilities and support for self-custody.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.
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