Luxembourg
08 March 2017
Reporter: Stephanie Palmer
CACEIS to facilitate bitcoin fund investment
Depository and transfer agent CACEIS is partnering with Bitstamp to allow fund promoters to accept bitcoin investments into investment funds.

Bitstamp, the EU’s only licensed bitcoin exchange, will allow both retail and corporate clients to invest using bitcoin, in a regulated environment.

In Q2 2017, when the new service goes live, promoters working with CACEIS will be able to process fund subscriptions and redemptions in bitcoin, providing an opportunity to source new capital inflows.

Bitstamp CEO Nejc Kodrič, said: “The Bitcoin industry is expanding not only geographically, but also in terms of its user base, which is why we are now seeing so many developments in the corporate investment space.”

He added: “Bitstamp’s first partnership with a market-leading, asset servicing bank like CACEIS means bitcoin investments can now be made within fully licensed and regulated framework.”

Joe Saliba, deputy CEO of CACEIS, said: “Fund promoters are constantly seeking new sources of investment capital and by interfacing them with a regulated bitcoin exchange we are supporting their business development objectives.”

“As a digital currency, bitcoin is already having a significant impact on the financial world and we have a strong conviction that this could increase as more fund promoters accept investment in bitcoin.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
First state-level regulator joins R3 DLT consortium
24 March 2017 | Illinois | Reporter: Katherine Brown
The Illinois Department of Financial and Professional Regulation (IDFPR) has become the first state-level regulator to join R3’s distributed ledger group...
Wolters Kluwer wins Russian reporting mandate
24 March 2017 | Moscow | Reporter: Stephanie Palmer
Nordea Bank Russia is set to go live with the Wolters Kluwer OneSumX Risk and Management Information Systems (MIS) reporting solution
Mutual insurer simplifies custody with single provider
23 March 2017 | Paris | Reporter: Mark Dugdale
Thélem Assurances awarded the mandate to CACEIS after deciding to simplify its custodian relationships, according to CFO Benoit Jullien
SEC to move US to T+2
23 March 2017 | Washington DC | Reporter: Drew Nicol
Members of the SEC’s industry steering committee, including DTCC and SIFMA, were quick to praise the commission on the amendment
Amundi clears credit default swaps through CDSClear
23 March 2017 | London | Reporter: Mark Dugdale
The asset manager accessed CDSClear via its clearing broker BNP Paribas, taking the service to 13 active members
MiFID II challenges abound
22 March 2017 | Luxembourg | Reporter: Stephanie Palmer
Data requirements and target market rules under MiFID II could pose challenges for asset managers and distributors, heard attendees of the ALFI European Asset Management Conference
ESG key for millennial investors
22 March 2017 | Luxembourg | Reporter: Stephanie Palmer
Millennial investors find environmental, social and governance factors to be important, but their return expectations are unrealistic
More news