Astana International Financial Centre (AIFC) and the next generation investment company EXANTE signed a memorandum of understanding to develop the cryptocurrency market in Kazakhstan and to position the AIFC as an international technology expertise centre.
According to the memorandum, EXANTE with successful blockchain projects under the belt (of its portfolio) agreed to cooperate in developing the AIFC act on regulation digital assets market and support evolution of the FinTech-ecosystem.
Leading financial regulators are actively working to create favourable conditions for the development of financial companies, the Parties noted. The Astana international financial centre in turn can become one of the global innovative financial hubs.
The distributed ledger technology has already drawn the attention of numerous national governments. Therefore, Kazakhstan has taken proactive steps to become a global trailblazer in this field. Gregory Klumov, Managing Partner of EXANTE, shares this optimistic forecast for the blockchain market.
«Blockchain technology has several indisputable advantages: transparency, immutability, relatively fast transactions, and reduced cost. These factors are more than enough for a bullish tendency to come. Global Money Supply (M2) figure is growing at 6% per year and stands at about $50 trillion currently (ex China). According to some competent sources, digital assets market will double every two years till at least 2021. We are working on a backbone of the blockchain world that will close the gap between emerging decentralized finance and the people» - Gregory Klumov said.
AIFC: In December 2015, the President of the Republic of Kazakhstan, Nursultan Nazarbayev, signed the Constitutional Law on the establishment of the Astana International Financial Center (AIFC). The purpose of the AIFC is to form a leading center of financial services of an international level. For the first time in the post-Soviet space, the principles of English law will be introduced: the official language of the financial center will be English.
AIFC's tasks are to assist in attracting investments in the country's economy by creating an attractive environment for investing in financial services, developing the securities market of the Republic of Kazakhstan, ensuring its integration with international capital markets. AIFC also intends to develop in the country the market of insurance, banking services and the market of Islamic financing.
EXANTE is an international investment company founded in 2011 in Malta, today has offices in 10 countries. In 2016, its trade turnover amounted to 350 billion US dollars. The company is licensed by the MFSA and CySEC, is authorized by FCA UK and provides direct access to the world's largest financial markets with the ability to trade shares, futures, options, funds, bonds, currency pairs, metals and digital assets through its own trading terminal developed by the company's specialists. In 2012, the founders of EXANTE offered investors the world's first adjustable way to earn money on the bitcoin course by launching their own cryptocurrency hedge fund Bitcoin Fund. In a year of existence, the fund showed a profitability of 4 847%, and in 2017 this figure has already reached 10 262%