Smarter Web Company Makes History: UK’s First Bitcoin-Denominated Convertible Bond Goes Live

London's fintech scene just got a crypto jolt—Smarter Web Company slings the UK's first Bitcoin-pegged convertible bond. Traders, grab your wallets.

Why it matters: This isn't just another corporate IOU. It's a hybrid beast—debt that morphs into equity, priced in Satoshis instead of pounds. The City hasn't seen this flavor of financial engineering since... well, ever.

The mechanics: Bondholders can convert to equity at pre-set terms, but here's the kicker—all valuations dance to Bitcoin's volatile tune. One minute you're holding debt, the next you're long a startup with a side of crypto exposure.

Between the lines: Somewhere in Mayfair, a hedge fund manager just spilled his £20 espresso. Traditional finance keeps trying to 'tame' crypto—meanwhile, the disruptors are rewriting the rulebook with blockchain-based instruments.

Bottom line: Whether this is genius or recklessness depends on Bitcoin's next 30% swing. But for now? The suits and the hoodies finally have something to talk about at cocktail parties. (Besides the Bank of England's antiquated monetary policy, that is.)

The Smarter Web Company (SWC) has launched “Smarter Convert,” a $21 million, interest-free Bitcoin-denominated convertible bond fully subscribed by institutional investor TOBAM. The bond offers 98% downside protection if unconverted after 12 months and converts into equity at a 10% premium to the £1.95 reference share price. A forced conversion occurs if shares trade over 50% above the strike price for 10 consecutive days. This innovative capital raise adds flexibility to SWC’s Bitcoin treasury strategy in the UK market.