Wall Street financial services firm Lazard plans to create tokenized funds through Bitfinex Securities.

Tokenized funds will be established and issued in accordance with Kazakhstan’s Financial Services Act, under the regulatory oversight of the Astana Financial Services Authority (AFSA), where SkyBridge and Bitfinex are authorized to operate. Bitfinex Securities will be responsible for the tokenization process and SkyBridge will act as broker and administrator for the tokenized funds. The product is available to retail users, but has certain geographic restrictions and can be purchased with Tether’s stablecoin (USDT).