Swiss Crypto Fund AG, a division of Crypto Finance Group (CFG), has received a license from the Financial Market Surveillance Service of Switzerland (FINMA) to launch investment tools for qualified investors, Bitcoin Com reports.
According to CFG, crypto exchange companies receive such permission from the authorities in Switzerland for the first time. FINMA, in turn, did not specify whether it was really the first license of its kind.
Getting the FINMA license is a big step in the right direction to establish us as the first point of contact for crypto assets.
CEO, Crypto Fund AG
The company intends to get one more permission from Switzerland's financial managers that will allow it to launch an investment tool on the basis of the index of the 10 most liquid crypto-currency assets and tokens, which is calculated and maintained by the Swiss SIX exchange.
Crypto Fund AG is registered in 'Crypto Valley' in the Swiss canton of Zug. As reported, Many other crypto and blockchain businesses are either headquartered or represented there, including companies like the Chinese mining giant Bitmain