Crypto Fund AG, a Zug-based subsidiary of the Swiss Crypto Finance Group (CFG), has received, according to a report by Reuters from the financial market regulatory authority of the country, the FINMA, the approval to distribute funds to qualified investors. According to the Crypto Finance AG, it is the first crypto-company to receive such approval. It is also a member of the VQF self – regulatory organisation (SRO) in Switzerland.
Jan Brzezek, CEO and founder of the Crypto Fund LTD, said:
“The receipt of a FINMA license is a big step in the right direction, as we continue to establish ourselves as a first contact for crypto-currencies.”
FINMA has confirmed the decision, but has not made clear whether this was actually the first license of this type.
According to the Website of the Crypto Fund AG Crypto AG Fund simplifies the access to the entire crypto-market-for investors by directly in crypto-diversified investments. It’s time-consuming to its customers on the latest state of the market and the technological developments of crypto Assets. The investment in a passive index Fund that covers only a crypto-Asset, but several.
The company has announced on its Website the application is also for a passive investment vehicle that tracks a Benchmark Index of up to 10 of the largest and most liquid crypto-currency Assets and Tokens.
According to ETHNews the Crypto Finance LTD has announced in January the launch of the Crypto Fund AG, and explains that she applied for a marketing authorisation for the operation in Switzerland. According to the announcement, the Fund outside Switzerland, was launched, the company requested the approval to operate within the country. It now has this approval.