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   842

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

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   101

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.