Swiss Fintech Firm Amun receives regulatory approval to sell crypto based ETPs in EU
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Swiss Fintech Firm Amun receives regulatory approval to sell crypto based ETPs in EU

December 10, 2019      Debarati Ghosh

Swiss fintech start-up firm Amun AG has received regulatory approval to sell crypto ETPs (exchange-traded products). Amun is the first issuer to deliver fully collateralized, passive investment products with cryptocurrencies as the underlying assets. The company announced that the EU member state regulator has cleared a base prospectus filed by the firm. With this EU retailer who has access to Swiss SIX and Germany’s Boerse Stuttgart exchanges, we can now trade crypto ETPs offered by Amun.

Amun also has big expansion plans in the European Union and is also committed to maintaining the highest standards of professionalism and looks forward to continuing a productive and collaborative relationship with new and existing partners in Sweden and the rest of the European Union.

Amun President – Ms. Ophelia Snyder said, “Our mission is clear and that is to help investors more safely, cost-effectively and easily invest in crypto asset classes through our crypto ETPs. We are very fortunate to have finished this process within 4 months of its consultancy period. We recognize that the regulatory framework in Sweden has been supportive of such initiatives and we welcome its deliberation. The combination of strong demand for ETPs in Sweden – especially in crypto assets – among private investors and institutional clients and our strong expertise in these product categories creates ideal conditions for Amun’s entry into the Swedish and European Union markets for ETPs.”

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Available products on the exchanges

Amun has currently listed seven crypto-based ETP products on the Boerse Stuttgart and ten on the Swiss SIX exchange. Which totals into a $55 Million assets under management. Also most recently in November, Amun launched an ETP with Digital asset bank Signum. The ETP is listed under the “MOON” ticker along with a Tezos (XTZ) backed ETP on Swiss Six.

But in which exchanges in EU, Amun will list its ETPs are still not clear. Hany Rashwan – CEO and Co-founder of Amun said the firm is expecting to launch to get listed in three European Exchanges by the end of 2020. This will add another $20 Million assets along with the existing $55 Million. Amun is planning to go global. Rashwan told The Block, “We plan on passporting our Swedish EU approved prospectus around the continent “ and “We’re on one continent; five more to go”. He also added that the firm currently has no plans to raise more funds. Currently, they have a headcount of 18 and next year they will be expanding the team.

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About Amun

Amun is a fintech firm that creates financial on-ramps to acquire, trade, and secure crypto assets, as well as develops crypto exchange-traded index and products that track a basket of the top virtual currencies. Amun is backed by Graham Tuckwell who is an Australian Multi-Millionaire. He’s also the first person to set up an Exchange Traded Fund – tracking the Gold’s price. He led Amun’s $4 Million seed in March 2019.

#crypto based ETPs #Crypto News #Cryptocurrency #Cryptocurrency Market #Cryptocurrency News #Swiss Fintech Firm Amun
Debarati Ghosh
Debarati Ghosh

Debarati is a finance MBA who is a keen observer of the current crypto currency market. She likes to read and write about the game changer and industry transforming news of the market.