Moody’s Assigns Provisional Ba2 Rating to New Hampshire’s Bond Project
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New Hampshire’s new first-of-its-kind Bitcoin-backed US municipal bond is now one step closer to reality after being given a rating from Moody’s Investors Service on Tuesday.
In a statement on Tuesday, Moody’s
The BFA outlined that the project would kick off with $100 million worth of bonds, with the product enabling companies to borrow against overcollateralized Bitcoin.
BitGo Trust Company Inc. is serving as the custodian for the BTC collateral, while the project was designed by asset manager Wave Digital Assets in partnership with bond specialist Rosemawr Management.
The New Hampshire BFA said fees earned from the program will “support the creation of the Bitcoin Economic Development Fund, allowing the authority to reinvest in programs that promote business growth and financial innovation across New Hampshire.”
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