ADDX Launches Its First Crypto Offering by Listing Trovio’s Digital Asset Fundby Fintech News Singapore November 3, 2021
Private market exchange ADDX has launched its first cryptocurrency product, with the listing of a digital asset fund by investment manager Trovio Capital Management (TCM).
The fund aims to provide accredited investors with a reliable option for crypto investing and has a minimum investment size of US$10,000.
On top of core positions in Bitcoin and Ethereum, the fund invests in a set of seven other top-performing cryptocurrencies that are identified and reviewed regularly.
ADDX said that the fund recorded a net return of 215% in 2020 and 205% in the first ten months of 2021.
The fund is among the first digital asset funds to be audited by KPMG. Its custody and trading services are provided by the Nasdaq-listed Coinbase.
ADDX, previously known as iSTOX, is a full-service capital markets platform with Monetary Authority of Singapore (MAS) licenses for the issuance, custody, and secondary trading of digital securities.
Individual accredited investors using the ADDX platform come from 27 countries, spanning Asia Pacific, Europe, and the Americas (excluding the US).
Jon Deane, CEO of Trovio said,
“It has been a fantastic experience bringing our flagship fund to ADDX’s MAS-regulated platform.
ADDX’s platform is enabling investors to seamlessly access these asset classes, whilst reducing friction often experienced via traditional channels. We look forward to working with the ADDX team on launching our other products over the coming months.”
Oi Yee Choo, Chief Commercial Officer of ADDX said,
“ADDX is pleased to work with Trovio on this first crypto offering to investors on our platform.
The team led by Jon Deane has deep expertise in both traditional finance and the crypto space, and this is reflected in their rigorous approach to conceptualising and bringing to market this institutional-grade fund.”
Featured image: Edited from Unsplash