New Hampshire approved a $100 million Bitcoin-backed municipal bond, the first of its kind in the U.S. The bond requires approval from Gov. Kelly Ayotte and the state Executive Council. Borrowers will need to post 160% of the bond’s value in Bitcoin as collateral, with a liquidation mechanism if Bitcoin falls below 130%. Transaction fees will fund a Bitcoin Economic Development Fund for state investments. New Hampshire also established a strategic Bitcoin reserve and allows the state treasurer to invest in digital assets meeting certain criteria. The bond was created in collaboration with digital asset companies BitGo and Wave Digital Assets, aiming to open a new debt market.

Read more at Yahoo Finance: New Hampshire Approves World’s First Bitcoin-Backed Municipal Bond. ‘It’s the Opening of a New Debt Market’