CandleFocus Wall Street Financial Services Firm Lazard Plans to Create Tokenized Funds with Bitfinex Securities
2024-10-25
Author: Content Editor
Lazard, a global financial services and asset management company, has announced plans to create tokenized funds in partnership with Bitfinex Securities and SkyBridge Invest. The tokenized funds will be issued under Kazakhstan's financial services law and regulated by the Astana Financial Services Authority (AFSA). Bitfinex Securities will handle the tokenization process, while SkyBridge will act as the broker and manager of the funds. The products will be available to retail investors, with certain geographic limitations, and can be purchased using Tether's stablecoin (USDT). The move towards asset tokenization aims to improve efficiency, liquidity, and lower operational costs. Tokenization of real-world assets is a growing trend in the intersection of digital assets and traditional finance. Lazard's asset management business currently has $245 billion in assets under management. This partnership represents the latest entry of traditional financial players into the asset tokenization market.
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