A new opportunity has emerged in Kazakhstan’s financial services sector with the introduction of tokenized funds that will be issued under the country’s financial services law. This initiative will be overseen by the Astana Financial Services Authority (AFSA), where licensed entities such as SkyBridge and Bitfinex operate.
Bitfinex Securities will be in charge of the tokenization process, ensuring compliance with regulatory requirements, while SkyBridge will take on the roles of broker and manager for the tokenized fund. These innovative products will be made available to retail investors, although there may be some geographic restrictions in place.
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Notably, the tokenized funds can be purchased using Tether’s popular stablecoin, USDT, providing investors with a convenient and secure payment option. This development marks a significant step forward in the adoption of digital assets within the traditional financial system.
