Bitfinex Launches Regulated Investment Exchange
- The exchange targets small and medium-cap companies, offering access to innovative financial products.
- Bitfinex launched the platform in a regulatory sandbox environment in Kazakhstan.
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Bitfinex Securities, a securities-focused arm of the eponymous cryptocurrency exchange, announced it has launched a new, regulated, investment exchange. The Bitfinex Securities platform was designed to enable capital raising for issuers that want to have their tokenized securities publicly traded. The platform enables investors to participate in sales through an easily accessible “admission to trading” process.
Bitfinex believes that not only will this widen small and medium-cap companies’ access to innovative financial products, but also provide them with an easy entrance into blockchain-based equities and bonds.
Paolo Ardoino, the CTO at Bitfinex Securities, said the new platform was designed for the companies that are currently underserved by existing, inefficient capital markets.
“As a pioneer in blockchain-based securities, we aim to be the most liquid exchange of its kind in the world,” he said in the company’s announcement.
The investment exchange was launched in the Astana International Financial Centre (AIFC) FinTech Lab, a live environment within AIFC that enables companies to offer innovative financial services without being immediately subject to regulatory requirements. AIFC was established in Kazakhstan’s capital in 2018 and has since attracted over 600 companies from 35 countries, while the FinTech Lab incubated more than 120 startups.
- After settling with the Office of the New York Attorney General, Bitfinex and Tether were ordered to introduce transparency measures.
- Alongside a hefty fine, the companies will have to ensure the OAG that their corporate and client accounts remain segregated.
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- The addition asserts Bitfinex’s intentions of expanding into the crypto-derivatives market.
- The inclusion of the new crypto derivatives contracts comes after last month’s listing of Europe 50 and Germany 30 perpetual swaps, offering exposure to established equity markets.
- The motion for summary judgement is on the grounds that the Plaintiffs are unable to “prove the central premise of their claims”.
- The two exchanges were added to the lawsuit as defendants in June.