Two Bitcoin funds, Fintonia Bitcoin Physical Fund and Fintonia Secured Getird Fund, aim to reduce the complexity of buying BTC from various exchanges and provide a safe way to invest.
Providing commercial banking, fund management and wealth management solutions to entrepreneurs, Fintonia is one of Singapore's leading wealth managers and expects its two funds to grow in "three-digit millions" within a year.
Adrian Chng, Founder and President of Fintonia Group, said:
The fund is buying 'physical' bitcoin, so we will actually buy bitcoin, not a derivatives instrument on bitcoin. As a manager whose fund is approved by MAS, which has strict standards, I can say the following; You can connect with multiple exchanges and different market makers and find the best prices, buy and sell. The funds also enable efficient cash or crypto transfers and solve the difficulties associated with the flow of large amounts of cash into and out of the system.
Fintonia also promised impeccable security services as the two new Bitcoin funds will secure their assets with a licensed and insured custodian.
Stating that the investments in the fund are insured against theft and hacking, Chairman Chng stated that the funds allow customers to store their crypto money in cold wallets.
Aiming to offer monetary benefits to BTC holders without selling their holdings, Fintonia Secured Return Fund promises direct loans to Bitcoin holders.
Bitcoin is an excellent form of collateral for loans. It is traded 24/7 and is highly liquid, at around $30 billion to $60 billion a day. If necessary, it can be liquidated quickly compared to, for example, commodities and real estate.
Singapore is increasingly becoming the top choice for many crypto giants in the recent past. The regulatory environment in the country seems to be meeting the needs of the crypto market as Binance, Coinbase and FTX look to expand their businesses in the country.