Hong Kong-based cryptocurrency exchange Bitfinex is moving into the security token offering (STO) industry by launching a new STO platform regulated in Kazakhstan.
Bitfinex Securities, Bitfinex’s blockchain-based investment product provider, has launched its investment exchange regulated in Kazakhstan’s national financial hub, the Astana International Financial Center (AIFC), the firm officially announced on Monday.
The new STO platform will reportedly operate under the AIFC Fintech Lab, a regulatory sandbox established in the AIFC by the Astana Financial Services Authority to support development in the financial industry.
Located in Astana, Bitfinex Securities will be available 24/7, providing investors with more ways to diversify their portfolios by raising capital for issuers seeking to trade their tokenized securities publicly. “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,” Bitfinex said in the announcement.
Bitfinex Securities chief technology officer Paolo Ardoino said that the new platform aims to provide the “most