Swiss crypto asset manager raises $14.5M Series B to expand into Asia
Crypto Finance AG, a Switzerland-based crypto asset administration, buying and selling and custody agency, has raised CHF 14 million (~$14.5 million) in Series B financing.
The spherical was led by Swiss investor Rainer-Marc Frey and Asia-based Lingfeng Capital, with participation from QBN Capital and different current and new traders.
With the contemporary capital in place, Crypto Finance AG seems to expand its services and products into Asia, the agency’s founder and CEO Jan Brzezek advised The Block.
“We are working towards replicating our domestic successes internationally, starting with our expansion into Asia via our Singaporean subsidiary, and enhancing our coverage of the target market in Germany and the UK,” stated Brzezek.
Crypto Finance AG operates three corporations inside its group – Crypto Fund AG (FINMA-regulated asset manager), Crypto Broker AG (energetic in crypto buying and selling) and Crypto Storage AG (which gives custody infrastructure and tokenization options).
Brzezek advised The Block that Crypto Broker AG is awaiting a Securities House license in Switzerland, which might enable the agency to commerce derivatives.
“We won‘t become a second CME or BitMEX. We will just build structured products as many investment banks, but just for crypto,” Brzezek advised The Block, quashing misreporting by CoinDesk, which states that “Crypto Finance AG plans to operate as a regulated derivatives market similar to Chicago’s CME Group.”
Giving an replace on Crypto Storage AG, Brzezek advised The Block that the agency is “closely working with various banks on asset tokenization and other direct forms of blockchain implementation, and hope to announce successful results and expand on our expertise throughout this year.”
There are presently over 35 individuals working for Crypto Finance AG throughout its three corporations, stated Brzezek. Crypto Fund AG employs 6 full-time workers, Crypto Broker AG employs round 16 individuals, and Crypto Storage AG presently operates as a group of seven.
“We are constantly looking for new talent, and hope to further expand the team throughout this year,” Brzezek advised The Block.
Crypto Finance AG began elevating for the Series B spherical final September and engaged the “Big Four” consulting agency PwC for investor introductions. The spherical brings the agency’s complete funding to date to over CHF 36 million (~$37 million) since founding in 2017. Brzezek declined to disclose valuations.
Looking forward, Crypto Finance AG may elevate extra funds shall the necessity come up, stated Brzezek.