Bitfinex to Launch New Security Token Offering Platform Regulated by Kazakhstan
One of the major cryptocurrency exchanges founded in 2012, Bitfinex, is launching a new security token offering (STO) platform regulated by Kazakhstan.
The platform will provide users with a large number of more diversified financial products, mainly stocks and bonds based on blockchain and investment funds.
The company announced that Bitfinex Securities Ltd, an investment product provider under Bitfinex, has obtained approval from Kazakhstan’s national financial hub, the Astana International Financial Center (AIFC), and launched a regulated investment exchange.
Paolo Ardoino, Chief Technology Officer of Bitfinex Securities, stated that the investment exchange would have an independent system in Kazakhstan, a special economic zone. He added that:
“The financial framework of the AIFC is based upon the best standards from developed financial centers such as the UK, Singapore, Abu Dhabi, and Dubai. Kazakhstan is an emerging hub in Asia well placed geographically to service our Asian and European markets and it’s poised to play an important role in this emerging alternative financial system.”
According to the official announcement, the Bitfinex securities platform continues to trade on digital token exchanges. The operation and service are available 24-7 to provide global investors with low-cost, high-efficiency, and optimised financing opportunities to enter the global securities trading market.
Bitfinex wrote in the announcement:
“The Bitfinex Securities platform is designed to facilitate the raising of capital for issuers seeking to have their tokenized securities publicly traded through an easily accessible “admission to trading” process. This meaningful step for the industry will widen access to a variety of innovative financial products, including notably blockchain-based equities and bonds, along with investment funds.”
As early as July of this year, The Kazakh Association of Blockchain and Data Center Industry has announced that cryptocurrency exchanges registered on the Astana International Financial Center (AIFC) will soon begin working with local banks to allow their customers to have the opportunity to transact cryptocurrencies officially.
The government of Kazakhstan is making plans to attract $738 million in investments related to cryptocurrencies and digital mining activities set up with the nation over the next three years.
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