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First Insured Bitcoin Fund Opens for Southeast Asian Markets
The fund, based in Labuan, Malaysia, aims to open access to digital assets for Southeast Asian institutional investors.
A regulated and insured bitcoin fund has been launched in Malaysia to serve the region's institutional investors.
STORY CONTINUES BELOW
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- According to an announcement Monday, the BCMG Genesis Bitcoin Fund-I (BGBF-I) falls under the oversight of the Labuan Financial Services Authority in Malaysia and is said to be the first insured bitcoin fund in Southeast Asia.
- The fund will be administered by Alpha Calibration, while Hong Kong-based HLB Hodgson will be responsible for the auditing. Labuan-based IBH Investment Bank is to serve as the primary fund adviser.
- The BGBF-I fund will use an artificial intelligence-powered blockchain-based platform from insured crypto exchange CGCX.io to minimize transaction costs and store crypto assets.
- Investment subscription contracts will be held in custody at regulated banks for added security, per the announcement.
- The fund will invest in market makers, bitcoin liquidity providers and other cryptocurrency investment opportunities, per its website.
Read more: Third Bitcoin ETF Expected to Launch in Canada This Week
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
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