A New Hampshire state authority is set to issue a first-of-its-kind bitcoin-backed bond with a Ba2 rating, marking an early test of how crypto can function as collateral inside traditional public finance markets. The New Hampshire Business Finance Authority plans to issue what appears to be the first rated bitcoin-backed bond, provisionally graded Ba2 by Moody’s, signaling a new intersection of crypto and public finance. The bonds are backed by bitcoin held in custody by BitGo. The securities a…
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