Crypto Fund AG to Launch Crypto Based Investment Tools

According to CFG, crypto exchange companies receive such permission from the Swiss authorities for the first time
19 June 2018   491

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.
 

Jan Bzhezek 

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

Bitfinex to List BCH' Chain Split Tokens

Bitfinex warned that support for BAB and BSV could be temporary
14 November 2018   56

The Hong Kong cryptocurrency exchange Bitfinex has listed the so-called Chain Split tokens for the two implementations of the Bitcoin Cash protocol. Bitcoin Cash hardfork is planned on 15th of November.

BAB [Bitcoin ABC client] and BSV [Bitcoin SV client] tokens will be traded in pairs with Bitcoin and the US dollar. The Token Manager tool will allow users to convert their Bitcoin Cash into one of the tokens. This process is reversible, Bitfinex emphasized. At the same time, marginal trade in tokens will be unavailable.

After snapshot of the network, the corresponding coins will be automatically converted into BAB and BSV onchain tokens, and all current Bitcoin Cash holders will receive an equivalent number of coins. However, if the user has a short BCH position at the time of the snapshot, the margin will be canceled, and the borrower, if he does not have enough tokens, will have to cover the negative balance sheets until December 31.

Bitfinex also warned that support for BAB and BSV could be temporary, and that as soon as all negative balances were covered, the exchange could delist them, allowing limited time for withdrawal.