CACEIS and Bitstamp launch innovative offer enabling fund promoters to accept Bitcoin investments into funds
CACEIS and Bitstamp, the EU’s first and only fully licensed bitcoin exchange, are announcing the launch of a new service which enables fund promoters to accept bitcoin investments from retail and corporate clients into their investment funds.
This partnership opens up new investment possibilities for the fund management community. With Bitstamp’s expertise in providing support to investors with bitcoin investments, and CACEIS as a leading European depository and transfer agent, the partnership represents an exciting opportunity for fund promoters to source new capital inflows. Fund promoters working with CACEIS as their transfer agent will be eligible to process fund subscriptions and redemptions in bitcoin when the service goes live in the second quarter of 2017.
This news was warmly welcomed by Bitstamp’s CEO, Nejc Kodrič: “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,” Kodrič explained. 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. It is an honour and a privilege for us to be starting this journey as CACEIS’s first ever bitcoin exchange partner.”
These sentiments were echoed by Joe Saliba, CACEIS Deputy Chief Executive Officer: “CACEIS is delighted to announce this innovative investment facility in partnership with Europe’s only fully-licensed Bitcoin exchange, Bitstamp,” Saliba declared. 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.”
Deputy Group Communications Director
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CACEIS is the asset servicing banking group of Crédit Agricole dedicated to institutional and corporate clients. Through offices across Europe, North America and Asia, CACEIS offers a broad range of services covering execution, clearing, depositary and custody, fund administration, middle office outsourcing, forex, securities lending, fund distribution support and issuer services. With assets under custody of €2.5 trillion and assets under administration of €1.6 trillion, CACEIS is a European leader in asset servicing and one of the major players worldwide (figures as of 31 December 2016).
Founded in 2011, Luxembourg-based Bitstamp is a leading global digital currency exchange and the largest bitcoin exchange in the EU in terms of volume. Currently offering trading between BTC, XRP, USD and EUR, further trading pairs and products are to be launched in the months ahead. Bitstamp was not only the first bitcoin exchange to implement hot/cold storage and the high-security multisig wallet, it was also the first and only exchange to become nationally licensed in all 28 EU member states. Bitstamp’s objective is to continue being an easy-to-use and reliable one-stop shop for trading cryptocurrencies in a fully compliant and regulated environment.