According to CoinMeta, the African financial company Africa Finance Corporation ( AFC ) successfully raised 350 million Swiss francs (approximately $431 million) through its first digital bond, becoming the first African institution to issue such debt through a regulated exchange and central securities depository. The interest rate for this five-year bond is 1.4925%. AFC stated that this issuance is its fourth and largest bond in Swiss francs, following a previous issuance of 150 million Swiss francs in green bonds. The investors in this bond are mainly from Switzerland, with domestic accounts accounting for about 90% of the orders. AFC mentioned that the proceeds from the issuance will be used to meet its general financing needs and to support infrastructure project financing in Africa.