New Hampshire approves its first $100 million municipal bond backed by Bitcoin collateral.

On November 19th, according to Crypto in America, a US-based cryptocurrency media outlet, the New Hampshire Business Finance Authority (BFA) officially approved the issuance of the first municipal bond in the United States secured by Bitcoin, totaling $100 million.

This marks a significant step forward for cryptocurrency in public finance.

The bond's collateral is managed by BitGo, a professional digital asset custodian. It requires that the value of Bitcoin consistently remain above 130% of the total bond amount, implementing an over-collateralization mechanism.

BFA primarily acts as a conduit in this project and does not assume repayment obligations. The bond structure was jointly designed by Wave Digital Assets and Rosemawr, integrating traditional financial instruments with innovative applications of crypto assets.

To protect investors' rights, the bond includes an automatic liquidation mechanism: if the market value of the collateralized Bitcoin falls below a set threshold, the system will automatically initiate liquidation procedures to ensure the safety of bondholders' principal and interest.

The funds raised will be injected into a newly established "Bitcoin Economic Development Fund" to support technological innovation, blockchain technology research and development, and related infrastructure construction within New Hampshire, contributing to local economic restructuring and innovative development.

This bond issuance not only marks the first time Bitcoin has been used as collateral in the U.S.

municipal finance sector, but also provides an important reference for other regions to explore the application of crypto assets in public finance, further promoting the deep integration of digital asset compliance with the traditional financial system.