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

According to Odaily Planet Daily, New Hampshire has officially approved the nation's first municipal bond secured by Bitcoin, valued at $100 million. This marks the first time digital assets have entered the traditional municipal financing system and is seen as a significant step for Bitcoin towards the $140 trillion global bond market.

The bond is authorized by the State Business Finance Department (BFA), but the risk is not borne by the state government or taxpayers. The safety of the funds is guaranteed by over-collateralized Bitcoin held in custody by BitGo. Borrowers are required to provide approximately 160% of their BTC as collateral. If the collateral ratio falls to approximately 130%, the system will automatically liquidate the positions to protect the interests of bondholders.

New Hampshire Governor Kelly Ayotte described it as a "historic breakthrough in digital finance," attracting investment without using public funds. The structure was designed by Wave Digital Assets and Rosemawr Management, with Orrick law firm involved in building the compliance framework.

Industry insiders say this model could pave the way for digital assets to enter fixed-income markets such as municipal and corporate bonds, and lay the foundation for future Bitcoin bonds truly issued by state treasuries. (Crypto In America)