Bitfinex launches Kazakhstan-registered platform for trading tokenised stocks and bonds

The cryptocurrency exchange Bitfinex has launched the Bitfinex Securities platform for trading tokenised stocks and bonds. It is registered in Kazakhstan on the basis of the Astana International Financial Centre (AIFC).

We’re pleased to announce, Bitfinex Securities Ltd, a regulated investment exchange designed to increase accessibility to a variety of innovative financial products.

Discover more on the launch of Bitfinex Securities Ltd and the reasons behind it👇https://t.co/8VU0V2a1y7 pic.twitter.com/lnW4GO0poS

— Bitfinex Securities (@BFXSecurities) September 6, 2021

Bitfinex Securities will allow companies to issue tokenised securities, and users will be able to invest in and trade them. The platform targets companies looking to attain public status by issuing tokens.

The platform holds a limited licence from the AIFC, according to The Block representatives of Bitfinex Securities. Until it receives a full licence, the exchange will cap the amount of capital raised at $15 million, and the number of participants at 1,000.

The technical director of Bitfinex Securities, Paolo Ardoino, who holds a similar post at Tether, explained the jurisdictional choice by noting that Astana is becoming one of Asia’s financial capitals and has a \”rigorous\” regulatory process.

He added that the platform had been pursuing a licence from the AIFC for a year and a half.

Bitfinex Securities will not be available to residents of the United States, Canada, Switzerland, Venezuela, Austria and Italy. To trade on the platform, users must pass KYC procedures.

At the AIFC, ForkLog was told that Bitfinex Securities had obtained a licence to operate an exchange and a clearing house in the regulatory sandbox. It allows companies to test financial products and services in fintech without necessarily meeting all regulatory requirements imposed on a financial institution in the AIFC.

As a reminder, the centre operates under a special legal regime that allows crypto-related initiatives to be launched in Kazakhstan. In the local Association of Blockchain and Data-Centre Industry, ForkLog was told that legislation allows AIFC residents to provide services not only to residents of the country.

In July at the AIFC proposed to set limits for retail investors on the purchase of cryptocurrencies.

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