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September 30, 2021

FINMA approves first regulated crypto fund in Switzerland

By Patrick Brusnahan

Crypto Finance has announced its approval by FINMA for its Swiss crypto asset fund, the first in the country.

The fund is administered by PvB with custody by SEBA Bank.

Qualified investors can now utilise this form of regulated fund. The passive investment fund from Crypto Finance tracks the performance of the Crypto market Index 10, which is administered by the SIX Swiss Exchange.

In addition, the objective of the Crypto market Index 10 is to reliably measure the performance of the largest, liquid crypto assets and tokens and to provide a investable benchmark for this asset class.

Bernadette Leuzinger, CEO of Asset Management at Crypto Finance, stated: “Crypto Finance is pleased to launch the first Swiss crypto fund, supervised by FINMA and launched with strong Swiss partners PvB and SEBA Bank. The investment fund enables clients of innovative wealth and asset management firms to participate in this upcoming asset class and to further diversify their portfolio in a secure and regulated way.”

“Two years ago SEBA Bank received a Swiss banking and securities dealer licence. With approval now granted according to the CISA agreement, SEBA Bank has passed another important stage in its development plan, and lives up to its pioneering role. Asset managers can now offer strategies based on crypto assets to a broader audience by using Swiss-based mutual fund structures with SEBA Bank as an approved custodian. We are excited to enable liquid investment funds to investors using crypto assets as the underlying investment universe. This is a further step in the evolution of digital assets investments,” said Guido Buehler, CEO of SEBA Bank.

In June, Deutsche Börse Group acquired a majority stake in Crypto Finance AG, a financial group under consolidated FINMA supervision.

Furthermore, Crypto Finance will be able to scale its business and expand the range of digital asset services.  Deutsche Börse also intends to make the Crypto Finance offering easily accessible for participants via its established platforms.

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