First Swiss Crypto Asset Management License Issued For Crypto Fund

post image

For the first time in Switzerland Crypto Fund has been authorized to serve institutional patrons in the niche of cyber assets. The document which permits the company to do so is called crypto-asset management license and has been given by the country’s financial watchdog. 

More Opportunities With a New License

Crypto Fund is a cyber-asset financial services provider based in the Swiss city of Zug. Earlier in 2018, it had already received limited permission to allot offshore-headquartered cyber asset funds. It was the country’s Financial Market Supervisory Authority (FINMA) which gave it such a right. 

Our top trading bots

But now the firm’s capacity has been enhanced. On October 9, it was announced that the fund can issue much more collective instrument products which trace BTC and its brethren. Among them, most importantly, are Swiss-headquartered funds.

According to Swissinfo.ch, Crypto Fund has also been authorized to consult institutional customers on investment. Overall, this company can now function on par with conventional asset managers in the state. 

This Fund is one of the branches of Crypto Finance. The latter was launched in last year summer. Its top executive emphasized the importance of regulatory acknowledgement as well as the importance of digital assets like these. 

Crypto Fund was among many counterparts who were also hoping to get a license, and they still are. Seba Crypto is a company which just recently joint the list of companies awaiting the permission from FINMA. If it gets one, Seba Crypto will supply the full range of banking services for cyber-money operators. 

The news that Crypto Fund got a long-sought license once again proved that Switzerland is a cyber-asset-friendly state. In general, this country indeed is one of the most open towards crypto-innovations.  It does strive to take its niche in the crypto-realm. For instance, this summer one of the Swiss banks started opening business accounts for unaltered ledger and virtual-money-related businesses. Moreover, the country is embracing crypto-companies and ICOs. 

Image Source: Flickr

Gold Pulls Bitcoin Investors From BTC, Says Van Eck Associates CEO
In 2017-2018 bitcoin bit gold as bait for investors. However, the situation is expected to change in 2019 as investors already hope more for the gold than...
Bitfi, John McAfee’s Crypto-Wallet, Hacked One More Time
“The world’s first un-hackable storage for cryptocurrency & digital assets,”said John McAfee, the chairman of the hardware crypto wallet Bitfi. On the website’s...
The First Private Ethereum-Based Asset EXM to Launch With No ICO
A new Ethereum fork is going to be executed on July 4. The novel project called Exereum claims to be the first private Exereum’s site, its team is aspiring...
Famous YouTuber Lost $2 Million Worth Crypto-Coins During Livestream
One might not be protected from hackers in the sphere of cryptocurrencies, even if one is the person who knows everything (or at least a lot) about cyber...
Sierra Leone Tallied Elections Results With Blockchain, For the First Time in the World
The West African nation Sierra Leone is receiving a lot of fanfare from lots of media that focus on cryptocurrency. The country is having what is believed...
Bill Gates Accused Cryptos of People’s Deaths, Related to Drug Sells
One of the wealthiest people on the planet, Microsoft Corporation top patron and opinion leader on the sphere of technologies Bill Gates believes that cyber...
South Africa Embraces Blockchain, Launches Ethereum-based Project
The ‘southest’ African nation is stepping into the crypto-friendly world as its central bank implements a novel proof-of-concept (PoC) initiative. This...
Ukrainians Will Be Able To Travel On A Single Blockchain Ticket
Until the end of the year in Ukraine, there will be a single through ticket for buses, railways, and flights. You can get it through a particular application...
SETI: Crypto-enthusiasts Hinder The Search For Aliens
The scientist of the Institute for the Search for Extraterrestrial Intelligence (SETI) said that the "cryptocurrency fever" and the popularity of mining...
Maduro Set Petro’s Pre-Sale Date. 5 Answers to Questions About Venezuela’s Crypto
Venezuela keeps struggling with economic crisis and extreme inflation. The country’s public currency bolivar sinks down breaking late anti-records, whereas...
Kodak Delayed ICO By Several Weeks
The initial coin offering (ICO) KODAKCoin, which has to start on January 31, was postponed to "several weeks". This is reported on the official website...
Bitcoin Is Not A Rival For Dollar, US Fed Reserve Placeman Says
On Wednesday, January 17, Bitcoin reached its 2018 low of $9,199, according to Coindesk. At the moment, the whole crypto market is suffering from a devastating...
Risks of Cashing Out Cryptos Into Fiat
In 2017 bitcoin has grown by around 1,700%, when litecoin managed to surge up by about 7,000% and despite the correction which occurred to the whole crypto...
Crypto Market Cannot Survive Without Fair Regulation – Credit Analyst
Scott Ryan, who is a credit analyst and avid follower of the cryptocurrency markets, believes that crypto markets need a particular regulation. On the one...
How Investors of Twitter Help Cryptocurrency to Succeed
According to the Coinmarketcap , the total market capitalization of all cryptocurrencies stands at nearly $530B. This is remarkable in comparison to $18B...