Crypto Finance has received regulatory approval from Swiss regulators. The Swiss Financial Market Supervisory Authority (FINMA) has reportedly given its seal of approval for the Crypto Fund AG – the first in Switzerland.
The creation of the Fund was announced earlier this year. It is a passive investment vehicle that enables qualified investors to track the “Crypto Market Index 10,” as calculated by the SIX Swiss Exchange. The cryptocurrency held by the find represents the largest crypto assets such as Bitcoin and Ethereum. The Fund allows investors to access weekly liquidity while providing a diversified approach to investing in crypto.
Crypto Finance AG is a Fintech holding company founded in June 2017. The company provides blockchain-related services through its three subsidiaries: Crypto Fund AG, Crypto Broker AG , and Crypto Storage AG. The company has an ambitious goal of becoming the leading investment and technology provider specialised in crypto assets, cryptocurrencies, and related services.
Jan Brzezek, CEO and founder of Crypto Fund AG, commented on receiving the license;
“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.”
Before launching the Crypto Fund, Brzezek held various positions at UBS and was a derivatives “expert” as the SIX Swiss Exchange.
Brzezek has been a vocal advocate of Switzerland’s prominence in the crypto industry as well advocating on behalf of clearly defined regulation.