Swiss regulator FINMA approves first cryptocurrency fund
Switzerland has long been known as a country for its friendly approach to cryptocurrencies, which allows many companies as well as institutions to participate in the sector.
The latest confirmation of this crypto-friendly status of the country is also the announcement from Crypto Finance, which these days, together with its partners, was the first in the country to obtain permission to launch and operate a crypto fund with a focus on institutional and professional investors.
According to published information, this crypto fund has long been of particular interest to qualified investors such as Swiss wealth management banks, asset managers, pension funds and other professional investors who jointly manage several trillion CHF assets.
In terms of the fund's focus, it primarily monitors the performance of the Crypto Market Index 10, which is managed by the Swiss exchange SIX. The aim of the index is to best measure the performance of the most popular and most liquid cryptocurrencies or tokens with subsequent output in the form of a benchmark for this class of digital assets. The last point is Crypto Finance, which aims to provide crypto asset management at the highest possible level, comparable to investment products in traditional markets.
Crypto Finance has strengthened its position through a partnership with SEBA Bank, which is a fully verified and approved Swiss crypto bank.
Two years ago SEBA Bank received a Swiss banking and securities dealer licence. With approval now granted according to the CISA agreement, SEBA Bank has passed another important stage in its development plan, and lives up to its pioneering role. Asset managers can now offer strategies based on crypto assets to a broader audience by using Swiss-based mutual fund structures with SEBA Bank as an approved custodian. We are excited to enable liquid investment funds to investors using crypto assets as the underlying investment universe. This is a further step in the evolution of digital assets investments, stated Guido Buehler, CEO of SEBA Bank
Bernadette Leuzinger, CEO of Asset Management at Crypto Finance, said that from now on, clients of many innovative companies will be able to invest in this upcoming asset class and thus further diversify their portfolios in "a secure and regulated way."
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