Crypto Fund AG Receives FINMA License For Swiss Operationsbr>
Crypto Fund AG has received regulatory approval from the Swiss Financial Market Supervisory Authority (FINMA) to distribute collective investment schemes to qualified investors.
Crypto Fund AG, a Zug-based subsidiary of the Swiss Crypto Finance Group (CFG), claims that it is the first crypto fund company in Switzerland to receive authorization from FINMA. The regulator confirmed the approval, but did not specify if this was in fact the first license of this kind.
Crypto Fund AG is a passive investment vehicle that enables qualified investors to track the “Crypto Market Index 10,” as calculated by the SIX Swiss Exchange. It allows investors to access weekly liquidity while providing a diversified approach to investing in crypto. The approval of FINMA as a distributor enables Crypto Fund AG to distribute funds to institutional investors, such as banks, asset managers, and family offices.
“For us, getting the FINMA license is a big step in the right direction, to establish us as the first point of contact for crypto assets,” Jan Brzezek, CEO and founder of Crypto Fund AG.
Before launching the Crypto Fund, Brzezek held various positions at UBS and was a derivatives “expert” as the SIX Swiss Exchange. He has been a vocal advocate of Switzerland’s prominence in the crypto industry as well advocating on behalf of clearly defined regulation.