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   856

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

OKEx Ex-CEO to Intend to Raise $40M

Funds are needed for the new exchange called ACDX, which will offer  futures, options, revocable bear/bullish contracts and more
06 February 2020   633

Andy Cheung, who until recently was the operating director of the OKEx cryptocurrency exchange, will open a new derivative trading platform ACDX by the end of the first quarter, CoinDesk reports. The exchange will offer its clients futures, options, revocable bear / bullish contracts, debt contracts and fixed coupon notes.

One of our main goals for the exchange is to provide retail investors with ... structured products that are more commonly used by accredited crypto investors and wealth managers.

 

Andy Cheung

Former chief operating officer at OKEx

In the future, ACDX plans to reach a global level, but first of all it will gather a client base in Asia, using the connections of Cheung and partners in Hong Kong and China. In preparation for the launch, she intends to raise $ 40 million through the sale of tokens and shares in her business to crypto funds, private investment firms and family capital management companies in Europe and Asia. 

We have over $4 million so far and most of the money comes from our own funds. We are in talks with potential investors and likely to announce new investments in the next two months.

 

Andy Cheung

Former chief operating officer at OKEx

To date, ACDX has hired more than 25 employees, including eight developers who are preparing the trading platform for launch.