Coming as the latest development in the cryptosphere, Fintonia Group, a Singapore-based fund manager regulated by the Monetary Authority of Singapore, has launched 2 institutional-grade BTC funds.
According to a recent announcement by Fintonia, the new funds, dubbed, the Fintonia Bitcoin Physical Fund and the Fintonia Secured Yield Fund, are aimed at providing uncomplicated and secure exposure to BTC for professional investors.
Fintonia founder and chairman Adrian Chng said,
“The funds are live and investors can subscribe and redeem regularly as they are open-ended funds, similar to a mutual fund. The funds are only available for accredited Investors.”
Chng allegedly mentioned,
“The fund acquires physical Bitcoin, meaning we will buy the actual Bitcoin rather than a derivative instrument on Bitcoin.”
The Fintonia Secured Yield Fund purportedly provides investors with access to private loans secured by BTC. Chng noted,
“Bitcoin is an excellent form of collateral for loans. It trades 24/7 and is highly liquid, with approximately $30 billion to $60 billion per day. If required, it can be quickly liquidated in comparison with, for example, commodities and real assets.”
Fintonia intends to decrease crypto-to-fiat friction as an MAS-regulated fund manager that complies with KYC and AML pre-requisites. The announcement further reads,
“These open-ended funds provide professional investors with a recognized legal and regulatory structure, similar to that of a typical mutual fund.”
As per MAS managing director Ravi Menon, Singapore is developing very strong regulation to reinforce its position as the world’s digital asset center.
The Future is Now Media Group have launched a YouTube show called The Future is Now Digest, hosted by Miguel Francis-Santiago. Together […]
April 30, 2020
PRESS RELEASE — 10,000 participants are expected to join CHAIN2020 in Hong Kong on January 15, which aims to become one of […]
December 27, 2019
Binance US, the American arm of the world’s largest cryptocurrency exchange, has terminated its agreement to purchase digital assets from Voyager Digital, […]
April 27, 2023
Bitcoin’s price rose above $29,000 on Wednesday morning as shares in First Republic Bank fell 50%. According to CoinGecko data, Bitcoin hit […]
April 26, 2023
Leave a Reply