In Brief:
- Fintonia Group announced the launch of two institutional-grade funds.
- The funds will be regulated by the Monetary Authority of Singapore.
- These funds depend on a licensed third-party custodian to store their customers’ crypto in cold wallets.
Fintonia Group, a Singapore-based financial services company, announced the launch of two institutional-grade bitcoin funds that have been approved by the Monetary Authority of Singapore (MAS).
According to the report, the funds aim to provide bitcoin access to investors in a timely, cost-effective, secure manner.
Fintonia Bitcoin Physical Fund and Fintonia Secured Yield Fund are institutional-grade products aimed at professional investors seeking long-only, passive bitcoin exposure.
Professional investors seeking direct economic exposure to bitcoin will be interested in the Fintonia Bitcoin Physical Fund.
It addresses four important issues for investors such as buying bitcoin at scale efficiently, storing bitcoin safely, selling bitcoin at scale efficiently, and giving bitcoin in a legally effective manner.
The Fintonia Secured Yield Fund is an open-ended fund that gives professional investors access to bitcoin-secured private loans.
The fund achieves risk-adjusted returns while also providing significant capital protection against price volatility.
This allows professional investors to gain indirect exposure to the cryptocurrency market’s growth.
These funds depend on a licensed third-party custodian to store their clients’ crypto in cold wallets. Theft and hacking are also covered by insurance, Fintonia stated.
Adrian Chng, founder, and chairman of Fintonia Group stated, “Singapore’s ambition to become a global cryptocurrency hub made launching here a natural choice. With a strong, yet open, regulatory framework, the country offers the ideal environment for us to contribute to the larger ecosystem by allowing professional investors to diversify their investments and take advantage of the rapid developments in the cryptocurrency space, all with a sense of security and trust.”
As Chng stated, Singapore is steadily making an effort to become a global crypto hub.
Recently MAS announced its plans to develop a central bank digital currency(CBDC). According to MAS managing director Ravi Menon, Singapore’s retail CBDC would be created in conjunction with private companies.