Crypto Fund wins first Swiss crypto asset management licence

The Swiss financial regulator has issued the country’s first cryptocurrency asset management licence, allowing Crypto Fund to offer services to institutional clients in the blockchain-based asset class.  The Zug-headquartered company had earlier this year been granted limited freedom to distribute offshore-based cryptocurrency funds by the Swiss Financial Market Supervisory Authority (FINMA). But the upgrade announced on Tuesday allows the firm to issue a wider array of collective investment products that track bitcoin and other cryptocurrencies, including funds based in Switzerland. Crypto Fund is also allowed to provide investment advice for institutional clients. In essence, the crypto financial services provider can now operate on the same level as traditional asset managers in Switzerland. Several other competitors have been queuing up at FINMA’s door to get approval to offer their services in Switzerland. New outfit Seba Crypto recently joined that list, announcing that it ...

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