What Bitfinex Securities does

Bitfinex Securities Ltd. is a tokenized-securities listing and trading platform established in 2021 as a wholly-owned subsidiary of iFinex (the parent of cryptocurrency exchange Bitfinex), incorporated under the Astana International Financial Centre (AIFC) in Kazakhstan and operating primarily under El Salvador's digital asset regulatory framework. The platform enables issuers to conduct capital raises — primarily Initial Public Offerings (IPOs) and debt offerings — through tokenized securities denominated in USDT on the Liquid Network, with secondary trading available 24 hours a day, 365 days a year to platform members. Listing requirements include $5 million in shareholder equity, $10 million in market value of unrestricted shares, two years of operating history, and 1 million unrestricted shares, alongside independent directors, auditors, and quarterly financial disclosures under AFSA oversight.

The company's core technology stack comprises the Capital Raise Platform (capital.bitfinex.com), USDt-denominated tokenized bonds on the Liquid Network, and the Hadron platform co-developed with Tether and KraneShares for institutional tokenized securities with collateral reuse and DTCC-integrated settlement targeted for 2026. Bitfinex Securities generates revenue through transaction-based fees on tokenized bond issuance, capital raise facilitation, and ongoing trading activity on its Trading Facilities. Customer segments include high-net-worth crypto investors and institutions in Europe and Asia (primary), emerging-market companies seeking cross-border capital (notably in Venezuela and the broader LATAM region), and institutional investors targeted via the Hadron partnership — with services explicitly unavailable to U.S. persons.

Strategic positioning is anchored by the Tether/KraneShares alliance (November 2025) and the Dubai DMCC/VARA framework, with offices in Astana, San Salvador, and Dubai. Since 2023, the platform has executed four tokenized bond offerings totaling approximately $6.2 million, and the March 2026 resumption of USDt-denominated offerings is explicitly targeting capital raises exceeding $10 million per transaction — positioning the company to capture early share of the projected tokenized-securities market that analysts forecast could reach nearly $10 trillion by 2030.

Name

Bitfinex Securities

Legal name

Bitfinex Securities Ltd.

Website

https://capital.bitfinex.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

251–500 employees

Short description

Bitfinex Securities operates a regulated tokenized-securities listing and trading platform under AIFC/AFSA and El Salvador frameworks, enabling emerging-market issuers to raise capital via USDT-denominated bonds and tokenized IPOs while serving crypto-investor and institutional clients in Europe and Asia.

Ownership category

akta.pro rank

Product category

Tokenized Securities Exchange

NAICS

Securities and Commodity Exchanges (52321)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Tokenized Securities & Capital Markets (Equity, Debt, Funds) (FSADAEAA)

akta.pro secondary industries

Tokenization Platforms (RWA, Securities, Funds) (FSAGAMAA), Tokenized Real-World Assets & On-Chain Treasuries (tokenized T-bills, money markets, cash management) (FSAPAEAJ)

Keywords

• Tokenized securities
• Digital asset exchange
• Capital raise platform
• Security token offerings
• Regulated securities trading

Headquarters

HQ city

Sultan

HQ country

Kazakhstan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Tokenized Bond Issuance Fees: Revenue generated from issuing tokenized bonds and securities on the platform. The company has facilitated multiple bond issuances with targets ranging from $10 million to capital raises of $30-50 million or more for emerging market companies.
2. Capital Raise Facilitation: Fees charged for the capital raise process including listing, prospectus preparation review, and ongoing quarterly financial statement requirements for issuers. Companies pay to participate in capital raises on the platform.
3. Trading Platform Fees: Revenue from trading activities on the Bitfinex Securities Trading Facilities, where tokenized investments are available for continuous trading to platform members.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Bitfinex Securities operates a regulated tokenized securities platform that enables issuers to raise capital through IPOs and tokenized bond offerings, including USDT-denominated bonds issued on the Liquid Network. Once listed, the tokenized investments are available for 24/7/365 trading to all platform members under AIFC/AFSA jurisdiction and El Salvador's digital asset regulatory framework. The company also co-develops the Hadron platform with Tether and KraneShares for institutional-grade tokenized securities infrastructure.

Product overview

Bitfinex Securities operates a tokenized securities platform with two primary offerings: the Capital Raise Platform for issuers to conduct tokenized IPOs and capital raises, and USDT-denominated tokenized bonds issued on the Liquid Network. The company also participates in the Hadron platform partnership with Tether and KraneShares to build global tokenized securities infrastructure. All operations are conducted under El Salvador's digital asset regulatory framework.

Differentiator

Problem solved

Functional benefit

Brands

• Hadron: A tokenized securities platform built by Bitfinex Securities and KraneShares in partnership with Tether, enabling regulated issuance, collateral reuse, and settlement efficiency for tokenized real-world assets

Products and services

• Bitfinex Securities Capital Raise Platform A regulated platform enabling issuers (primarily emerging market companies) to raise capital through tokenized securities offerings, including IPOs, with 24/7/365 trading on Bitfinex Securities Trading Facilities.
• USDt-Denominated Tokenized Bonds Tokenized bonds denominated in USDT (Tether's stablecoin) issued on the Liquid Network, providing exposure to emerging-market private credit including SMEs and women-led enterprises, targeting high-net-worth crypto investors and institutions from Europe and Asia.
• Hadron Platform A tokenized securities platform built by Bitfinex Securities in partnership with Tether and KraneShares, designed to enable regulated issuance, collateral reuse, and settlement efficiency for tokenized real-world assets, targeting institutional investors with cross-border securities trading capabilities.

Quantifiable outcome

• Over $5 million raised in first tokenized bond issuance with $10 million target
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered flagship and core.

• TetherflagshipStrategic or Co-development Partner · 6 November 2025Tether, KraneShares, and Bitfinex Securities entered a strategic agreement on November 6, 2025 to accelerate development and adoption of tokenized securities across global markets. The collaboration combines technological, regulatory, and distribution capabilities to explore tokenized exchange-traded products and institutional demand, leveraging El Salvador's digital asset regulatory framework where Bitfinex Securities holds its primary license. The Hadron platform aims to enable regulated issuance, collateral reuse, and settlement efficiency with DTCC targeting limited production trades in July 2026 and full launch in October 2026.
• KraneSharesflagshipStrategic or Co-development Partner · 6 November 2025Tether, KraneShares, and Bitfinex Securities formed an alliance on November 6, 2025 to develop infrastructure for tokenized securities targeting institutional investors using El Salvador's regulatory framework. The alliance enables cross-border securities trading and aims to expand the tokenized securities sector significantly within five years, with the global market projected to grow to nearly $10 trillion by 2030.
• Mikro KapitalcoreStrategic or Co-development Partner · 21 December 2023Collaboration with Mikro Kapital for tokenized bond issuance denominated in USDT on the Liquid Network, raising over $5 million with a target of $10 million. The initiative aims to bridge traditional and crypto investors through asset tokenization, with four previous offerings totaling $6.2 million since 2023.
• DMCC and VARA (Dubai)coreStrategic or Co-development PartnerDubai's DMCC and VARA signed a Memorandum of Understanding to establish an early operating framework for tokenized real-world assets, positioning the emirate as a potential global liquidity corridor. The framework centers on Hadron, a platform built by Bitfinex Securities and KraneShares, with the GCC region identified as a $500 billion opportunity.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Archax: Archax is a regulated digital securities exchange and broker based in the UK, offering tokenization, listing, and trading of security tokens. It is directly comparable to Bitfinex Securities as a regulated venue serving institutional and professional investors in tokenized securities.
• Ondo Finance: Ondo Finance provides tokenized real-world assets including U.S. Treasuries and other yield-bearing instruments. It overlaps with Bitfinex Securities' tokenized bond offerings targeting institutional and crypto-native investors seeking RWA exposure.
• Securitize: Securitize is a leading tokenized securities platform that enables issuance, management, and trading of digital securities with regulatory compliance. It directly competes with Bitfinex Securities in offering regulated tokenization infrastructure for issuers and investors.
• tZERO: tZERO operates a regulated security token exchange and tokenization platform, providing trading of digital securities. It competes directly with Bitfinex Securities as a venue for listing and trading tokenized equity and debt instruments under regulatory oversight.

Emerging players

• Maple Finance: Maple Finance is a decentralized credit marketplace enabling institutional lending through on-chain tokens. While focused on private credit pools rather than security tokens, it overlaps with Bitfinex Securities' emerging market private credit offerings and tokenized debt instruments.
• DigiShares: DigiShares provides white-label tokenization platforms for issuers to create and manage security tokens. It competes with Bitfinex Securities in the tokenized securities issuance and secondary trading infrastructure space.
• Matrixdock: Matrixdock issues tokenized real-world assets including short-term Treasury bills and gold. It overlaps with Bitfinex Securities in offering USDT/stablecoin-denominated tokenized yield products on-chain, though focused more on liquid RWA than security token listings.
• STOKR: STOKR is a European tokenized securities marketplace focused on SMEs seeking capital raises through security token offerings. It directly competes with Bitfinex Securities' issuer onboarding for emerging market and growth-stage companies.
• InvestaX: InvestaX is a Singapore-based platform for tokenized securities and real-world assets, offering issuance, listing, and trading infrastructure. It is comparable to Bitfinex Securities as a regulated tokenized securities venue serving institutional and accredited investors in Asia.
• Polymath: Polymath provides tokenization infrastructure for security tokens with compliance features built-in. It overlaps with Bitfinex Securities in the regulated tokenized securities issuance layer, though focused on protocol infrastructure rather than operating an exchange venue.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bitfinex Securities