New Hampshire, USA, launches the first Bitcoin-backed municipal bond.

Odaily News The state of New Hampshire has officially approved the nation's first municipal bond backed by Bitcoin as collateral, totaling $100 million. This marks the first time digital assets have entered the traditional municipal financing system and is seen as an important step for Bitcoin toward the $140 trillion global bond market. The bond is authorized by the state's Business Finance Authority (BFA), but it does not carry risk for the state government or taxpayers; the funds are secured by over-collateralized Bitcoin held in custody by BitGo. Borrowers must provide approximately 160% of BTC as collateral, and if the collateral ratio falls to around 130%, the system will automatically close positions to protect the rights of bondholders. New Hampshire Governor Kelly Ayotte stated that this is a “historic breakthrough in the digital finance sector,” which can attract investment without using public funds. The structure was designed by Wave Digital Assets and Rosemawr Management, with Orrick Law Firm involved in the compliance framework setup. Industry insiders say this model could pave the way for digital assets to enter municipal bonds, corporate bonds, and other fixed-income markets, laying the groundwork for future Bitcoin bonds truly issued by the state treasury. (Crypto In America)