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New Hampshire, USA, approves the issuance of the first municipal bond backed by Bitcoin.
On November 19, New Hampshire became the first state to approve municipal bonds backed by Bitcoin, a milestone that could pave the way for digital assets to enter the $140 trillion global debt market. On Monday, the state's commercial financing agency—the Business Finance Authority (BFA)—approved an unprecedented $100 million Bitcoin-backed conduit bond, allowing companies to borrow against over-collateralized Bitcoin held by private custodians. It is reported that although the BFA is a state government agency, the bond is not guaranteed by the state government or taxpayers. The BFA acts solely as an intermediary, responsible for approving and overseeing the transaction without assuming repayment risk, while investors' rights are secured by Bitcoin held in custody by BitGo.