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Laxman Pai, Opalesque Asia: The Swiss Financial Market Supervisory Authority (FINMA) has issued the country's first cryptocurrency asset management license to a crypto investment fund Crypto Fund AG, a subsidiary of Crypto Finance AG.
The Zug-based company has received same licence as professional fund managers. The license allows the company to manage crypto-related investments within Switzerland and to solicit for others elsewhere. Crypto Fund will also be authorized to provide investment advice to corporate investors.
As an asset manager of collective investment schemes, Crypto Fund can manage and distribute domestic and foreign funds and provide advice to investors, the company said.
A press release from the company quoted Jan Brzezek, CEO and co-founder of parent company Crypto Finance AG as saying: "The FINMA authorization for Crypto Fund AG is a key step for our clients and investors, and for us in becoming a leading provider of digital asset services worldwide." This authorisation as a fund manager firmly positions Crypto Fund AG alongside globally recognised Swiss fund managers, he added.
"The authorisation represents our professional work over the last 12 months and is a major milestone for us. Our thanks go, above all, to our partners who made this ground-breaking authorisation possible and to FINMA for the good cooperation," said Mathias Maurer, COO of Crypto Fund AG.
The step to authorisation as an asset manager of collective investment...................... To view our full article Click here
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