{
  "id": 6532862,
  "title": "Phillip’s Web3 arm Symphony bets on Kazakhstan for Central Asia push",
  "url": "https://urgent.news/2026/09/10/phillips-web3-arm-symphony-bets-on-kazakhstan-for-central-asia-push",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-10T03:00:00.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/phillips-web3-arm-symphony-bets-kazakhstan-central-asia-push"
  },
  "original_language": "en",
  "account": "Symphony, the Web3 arm of Singapore brokerage PhillipCapital, is betting on Kazakhstan for its Central Asian push in the digital assets sector. After receiving regulatory approval to offer tokenised investment products in Kazakhstan, Symphony's Kazakhstan unit has obtained a licence from the Astana Financial Services Authority (AFSA) to act as an intermediary for digital assets and tokenised securities. The company chose Kazakhstan for its first overseas operations, leveraging PhillipCapital's existing business relationships in the region. Symphony believes there is a clearer use case for tokenisation and stablecoins outside Singapore, where investors may face more friction with cross-border transactions or accessing foreign investment products. The AFSA, AIFC, and the Monetary Authority of Singapore have been collaborating since 2018 to strengthen fintech ties between Singapore and Kazakhstan. Tokenising a money-market fund could allow investors to gain exposure to traditional investments using stablecoins like USDT, which currently holds significant value in the region due to remittance flows. The company is exploring other tokenised real-world assets, such as real estate, metals, and minerals, in Kazakhstan. Symphony aims to stabilise its business operations first before expanding further in the region.",
  "summary": "The digital assets firm has received regulatory approval to offer tokenised investment products",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}