Financial solutions provider Geneva Management Group (GMG) has launched a new division that will support clients dealing with cryptocurrencies.
The new crypto solutions department will be headed by managing director Mathieu Saint-Cyr.
“While ultimately the purpose of Crypto and Blockchain is to “democratise” transactions by allowing peer-to-peer settlements, currently the lack of harmonised regulation and infrastructures leads investors to seek scarce professional support with due diligence, KYC and convertibility of Crypto assets into the classic “fiat” currencies such as the Euro, Dollar etc. As a regulated financial solutions provider, GMG has developed the expertise to bridge this gap,” Saint-Cyr noted.
The unit has already started supporting clients in initial coin offerings, and offering them legal and tax advice for crypto investments.
The services offered by GMG will be available across the globe and will be adjusted to comply with the legislative framework of different regions.
The firm has also launched its own e-wallet to receive payments in recognised cryptocurrencies.
GMG CEO Dave Elzas said: “We witness an increasing interest in virtual currencies and blockchain technology among our clients, many of whom are entrepreneurs and extremely technology savvy.
“The successful solutions we’ve already provided to many of our clients in this field, enabled us to set up a strong internal team to serve this growing demand.”