Smarter Web & Tobam Shatter Norms with $21M Bitcoin Bond – The Future of Crypto Finance Is Here

Wall Street meets blockchain in a seismic shift. Smarter Web Company and Tobam just dropped a $21 million Bitcoin bond offering that’s rewriting the rules of institutional crypto adoption.

Why this matters: Traditional finance finally gets a crypto wake-up call.

The bond—pegged to Bitcoin’s volatility—lets institutional players dip into crypto without the regulatory headaches. No custody nightmares, no ETF fees—just pure exposure to the asset class that’s outperformed every traditional market for a decade.

Behind the scenes: Tobam’s anti-benchmarking strategy (usually reserved for hedge funds) now applies to Bitcoin’s wild price swings. Smarter Web handles the blockchain infrastructure—because apparently banks still can’t.

The cynical take: $21M is couch money for these players, but hey—it’s progress. At least they’re not calling it a ‘web3 innovation’ this time.

Bottom line: When legacy finance starts playing by crypto’s rules, you know the game has changed. Watch for copycats—or better yet, watch Bitcoin laugh all the way to new ATHs.

TLDR

• Smarter Web raises £15.8M via Bitcoin bond, fully subscribed by Tobam.
• Bitcoin-backed bond gives Smarter Web crypto-financed growth potential.
• Smarter Convert offers equity upside, BTC repayment, no interest risk.
• Smarter Web pioneers BTC bond in UK markets with Tobam’s full support.
• Crypto meets capital markets as Smarter Web launches BTC bond strategy.

The Smarter Web Company has launched a new capital raise through a Bitcoin-denominated convertible bond. The offering secured £15.8 million ($21 million) and was fully subscribed by French asset manager Tobam. This MOVE introduces a crypto-aligned financing tool into the UK’s public equity markets.

The Smarter Web Company (#SWC $TSWCF $3M8.F) RNS Announcement: Smarter Convert – $21 Million Subscription.

The Smarter Web Company is pleased to announce the launch of Smarter Convert, a strategic, interest free capital-raising initiative structured as a convertible bond,…

— The Smarter Web Company (@smarterwebuk) August 6, 2025

The bond structure, named “Smarter Convert,” allows conversion into equity at a premium to the current share price. It is interest-free and offers downside protection with 98% principal repayment in Bitcoin if not converted. The 12-month term includes forced conversion triggers based on sustained share price growth.

The instrument marks a rare instance of crypto-denominated debt used by a publicly listed UK company. The firm’s equity trades on AQSE under the ticker SWC, while also listed on OTCQB and Frankfurt exchanges. This strategy aligns with its Bitcoin-focused treasury model, which it has pursued since 2023.

BTC-Denominated Bond Sets New Capital Markets Precedent

Smarter Convert was developed with Tobam, which invested through three of its managed funds. The French firm, which has been active in bitcoin since 2016, now manages over $2 billion in assets. The bond allows Tobam exposure to equity upside while retaining Bitcoin’s valuation alignment.

The conversion price is set at £2.05, representing a 5% premium over the reference share price of £1.95. The deal uses a GBP/USD rate of 1.3288 to calculate USD-equivalent conversion. A total of 7,718,551 new shares may be issued if full conversion occurs.

If the share price exceeds the conversion rate by 50% for 10 consecutive trading days, Smarter Web Company can initiate forced conversion. This mechanism activates after a six-month lock-in and enables capital efficiency if share prices outperform. Otherwise, holders receive 98% of their Bitcoin principal at maturity.

Bitcoin Integration Anchors Company’s Treasury and Strategy

The Smarter Web Company holds Bitcoin on its balance sheet and accepts Bitcoin as payment for services. This offering strengthens its treasury while allowing further accumulation of digital assets under a capped policy. Bitcoin exposure from Smarter Convert is limited to 30% of current unencumbered reserves.

The company provides web development, hosting, and digital marketing services, generating recurring revenue. Alongside organic growth, it plans to expand via acquisitions focused on client volume and long-term retention. Strategic mergers will only occur where timing aligns with the company’s expansion objectives.

Since adopting its Bitcoin treasury policy, the company has aimed to lead digital asset adoption in the public markets. The bond issue reinforces its vision to become one of the UK’s largest public digital-forward companies. The structure blends traditional instruments with modern asset strategy for a hybrid capital approach.

Convertible Bond Offers Unique Equity Premium and Risk Management

The offering raises capital at a premium and mitigates equity dilution compared to standard fundraising. The best-case scenario creates roughly 5% less dilution than a typical equity raise at the time of issue. Shareholder value is preserved while enabling Bitcoin-aligned growth.

If shares underperform, the company retains a 2% margin from the capital raise as cost recovery. This loss offset supports flexibility in funding while maintaining downside protection. The Bitcoin repayment model ensures exposure is value-linked rather than fixed.

The structure reflects increasing interest in crypto-integrated financial tools across public markets. It may establish a blueprint for other firms pursuing digital asset-backed fundraising. The Smarter Web Company and Tobam have demonstrated a pioneering use of Bitcoin as a capital vehicle within regulated equity frameworks.