In the asset management sector, crypto companies have not yet been found in the alpine republic of Switzerland. This could now change. At least the approval of Crypto Fund AG as an asset manager is a first step towards market liberalisation.
Financial market supervision is innovative
Many companies in the industry have long been calling for what they consider to be overdue equal treatment with financial service providers – classic niches in the financial market. It remains to be seen to what extent the subsidiary of Crypto Finance AG, Crypto Fund AG, could now become a pioneer. In any case, it is true that the provider is the first industry representative to be approved by the Swiss Financial Market Supervisory Authority FINMA as an asset manager (on the basis of the Collective Investment Schemes Act, CISA). For some years now, Swiss supervision has been increasingly open to new approaches, as shown by the guidelines for ICOs published some time ago.
Crypto Fund AG – Fund service provider with extensive portfolio
In the opinion of many experts, the company is one of the most promising fund managers in Switzerland. And this despite a comparatively short existence. For the parent company Crypto Finance Group, the approval is an extremely important signal that is of great importance for investors, customers and the company itself. Interested parties who prefer digital assets and, for example, buy Ripple to participate with their wallet in the boom of the crypto industry, could increasingly use fund products that invest capital in currencies such as the Bitcoin or emerging new coins such as Tezos or Monero and others via this and other providers who may soon also receive FINMA approval.
Important equality with “traditional” fund providers
For the Crypto Finance subsidiary, this development is particularly important because it can now work at eye level with Swiss and foreign fund managers when it comes to regulation. The release is seen by the company as confirmation of its successful work since 2017. The aim of the company is to establish the still young asset class of digital assets more quickly. Switzerland, for its part, could now become the trigger for improvements in the recognition of cryptographic facilities around the world.