NH Authority Issues Bitcoin-Backed Bonds with Provisional Moody's Rating

The market for digital asset-backed securities is expanding, with the New Hampshire Business Finance Authority taking a key step forward. The authority has issued $100 million in bonds backed by a pool of bitcoin held by BitGo Bank & Trust.

The bonds have been assigned a provisional rating by Moody's Ratings, which indicates that they meet certain creditworthiness standards. This development is significant because it represents the first time that digital assets have been used as collateral for debt obligations in the public finance market.