A $100 million issuance could open the doors of digital assets to the $140 trillion global debt market.

According to reporting by Crypto In America and Eleanor Terrett, on November 17 the New Hampshire Business Finance Authority (BFA), the state’s enterprise financing agency, approved a $100 million municipal bond backed by bitcoin. The product will allow businesses to obtain loans using bitcoins – held with a private custodian and over-collateralized – as collateral.

Although the BFA is a state entity, this municipal bond is not guaranteed by the State or by taxpayers. The agency acts as a conduit, approving and overseeing the operation without taking on repayment risk. Investors, instead, are protected by the bitcoins held in custody by BitGo.

The initiative comes just a few months after the State became the first in the U.S. to authorize its treasury to invest up to 5% of public funds in digital assets.

...read more at atlas21.com