UK-listed Smarter Web Company raised $21 million via Bitcoin-denominated bonds, backed by Tobam, offering a new model for crypto-aligned fundraising.
The Smarter Web Company, a publicly traded UK-based company holding Bitcoin on its corporate balance sheet, raised $21 million through a Bitcoin-denominated bond offering, marking a rare move in British capital markets.
In a Wednesday London Stock Exchange announcement, The Smarter Web Company disclosed it had launched a Bitcoin-denominated bond that has already raised 15.8 million British pounds ($21 million). The bond was offered in a fully subscribed round backed by the French asset management giant Tobam.
The new product, “Smarter Convert,” was designed in partnership with Tobam, with the French company investing through three of its managed funds. Tobam CEO Yves Choueifaty said that the company “is driven by a commitment to long-term alignment.”
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