Oct 14, 2018 21:56 UTC
Oct 15, 2018 at 23:28 UTC
Crypto Fund To Foray Into Asia Soon
Crypto Fund is a Swiss crypto asset manager which provides exposure to the crypto market. Last week, they in a landmark, first of its kind move won backing from the Swiss finance regulator, FINMA, which is yet another proof of how digital assets are breaking through traditional finances. As reported by finews.asia, they are now thinking about expanding into Asia.
The CEO of Crypto Fund, Jan Brzezek, said that Singapore was the next step for them, where the interest and willingness for Crypto investments were gauged to be very high. He said,
The step into Singapore is a mid-term goal. First, we will hold talks with partners to evaluate how exactly to expand there.”
He also disclosed their plans to set up a booth at Singapore’s annual fintech festival in November.
Crypto Fund is being backed by Crypto Finance which is an asset manager, brokering and storage platform. The backing that they received was a breakthrough as it is the first step to revive a nascent crypto scene. Token providers now are rushing in to build bridges between traditional finance and blockchain technology and therefore optimize the situations.
Switzerland is known to adopt an accepting, and welcoming stance about the digital assets and is due for a more thorough evaluation at the year-end. Johann Schneider-Ammann, the economics professor of the country, called it the “Crypto Nation” in the hopes of attracting more and more blockchain and cryptocurrency firms. Several scandals in the recent past have still not dented the enthusiasm of the officials in Switzerland.
In spite of Nouriel Roubini slamming and criticising cryptocurrency, by questioning its decentralization, the interest from Asian institutions continue to grow. However, a proper framework for regulation, custody, and criminal detection is required for countrywide acceptance.