Crypto Fund, a unit of Crypto Finance, has obtained an asset management licence in Switzerland that will place it at par with other fund managers in the country.
The licence, awarded by the Swiss Financial Market Supervisory Authority (FINMA), will enable the company to cater to clients in the blockchain-based asset segment.
Crypto Finance co-founder and CEO Jan Brzezek said: “The FINMA authorisation 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.”
Earlier this year, the company received limited approval to distribute funds to qualified investors.
The new authorisation will enable the company to offer domestic and foreign investment funds as well as provide investment advice to investment clients.
“The importance of crypto assets is growing and our aim is to accelerate maturity in these markets. Regulatory recognition remains highly sought after by participants, as seen in recent press and company statements,” Brzezek added.
In another development, Crypto Fund has appointed Professor Fabian Schär to the board of directors.
Currently, Schär is the director of the Center for Innovative Finance (CIF) at the University of Basel in the Faculty of Business and Economics.
The appointment is expected to bring additional technological knowledge and expertise in the board.
Established in June 2017, Crypto Finance comprises three subsidiaries Crypto Fund, Crypto Broker and Crypto Storage.
Crypto Fund offers an array of fund products to institutional investors, enabling them to access growing crypto asset markets.
Crypto Broker is engaged in crypto asset trading, while Crypto Storage offers crypto asset custody infrastructure.