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Bitfinex launches tokenized stocks and bonds trading platform

Cryptocurrency exchange Bitfinex is launching a new platform, Bitfinex Securities, which will provide access to trading tokenized stocks and bonds.

According to
a statement on the Bitfinex blog, small and medium-sized companies will be able to list their tokenized securities on the Bitfinex Securities platform to obtain an additional source of funding. Site users, in turn, will be able to invest in such companies and trade tokens.

According to Bitfinex representatives, the offer differs from services of other cryptocurrency exchanges, such as FTX and Bittrex Global. They provide access to trading in tokenized shares of companies that are already listed on the stock exchange. Bitfinex will provide access to tokenized shares of companies that have not previously been traded on the stock exchange.

“In fact, we are entering the field of players like the London Stock Exchange and other traditional stock exchanges,” said Paolo Ardoino, CTO of Bitfinex.

Interestingly, it was decided to open the headquarters of Bitfinex Securities in Kazakhstan. The platform will be regulated by the Astana International Financial Center Office. This decision was made thanks to an extremely “thoughtful regulatory regime”, which has absorbed the best from the practices of regulators in the UK, Dubai and Abu Dhabi. At the same time, the site has a limited investment license from the regulator.

“We will be working in a very controlled environment. The maximum amount of funds raised is limited to $ 15 million, and the number of clients should not exceed 1,000, ”said Tim Aron, Head of Compliance at Bitfinex Securities.

However, the restrictions must be lifted after obtaining a full license. The regulator will issue it after making sure that the first transactions were successful. However, citizens of some countries will not be able to become clients of Bitfinex Securities. The list includes the United States, Switzerland, Canada, Austria, Italy and Venezuela. To trade on the site, users will have to go through the identity verification procedure.

As a reminder, in March Bitfinex announced the integration of an OTC settlement system to attract institutional investors.

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