Apex to provide fund services to Blockchain.com
Apex Group Ltd, the Bermudian-based global financial services provider, has been appointed to provide fund services to Blockchain.com Asset Management, a new crypto asset management platform powered by Blockchain.com with investments managed by Altis Partners.
Apex said BCAM’s Jersey-domiciled funds will offer regulated crypto investment products for institutional investors, family offices and high net worth individuals.
The platform launches with a suite of index and systematic products such as a bitcoin tracker and a bitcoin smart beta.
The bitcoin tracker algorithmically trades bitcoin to track its price versus the US dollar, providing cheap, efficient exposure to bitcoin, while bitcoin smart beta offers an algorithm-based risk-managed exposure to bitcoin that aims to reduce volatility and drawdowns.
Apex will provide a full suite of fund solutions, including compliance, KYC/AML, company secretary and transfer agency services delivered by Apex in Jersey and with fund administration offered by Apex’s centre of excellence for digital assets in Malta.
The company said its services will allow Blockchain.com and Altis to efficiently communicate with investors and implement robust controls, underpinned by secure technology solutions to expedite and simplify daily investment management tasks.
Founded in 2011, Apex said, Blockchain.com allows 37 million verified users to buy, trade and store digital tokens such as bitcoin.
More than 82 million wallets have been created on Blockchain.com, with more than a third of all bitcoin network transactions taking place via the platform.
This announcement follows Apex’s recent acquisition of a majority stake in FundAdminChain, a distributed ledger-based network for launching, distributing, trading and settling collective investment funds.
David Barry, global head of open-ended funds at Apex Group, said: “We’re excited to be supporting the launch of BCAM as Blockchain.com continues to lead the digital assets revolution by offering institutional investors sophisticated investment strategies for crypto assets, underpinned by robust controls and procedures.
“This appointment is further evidence of Apex’s forward looking and adaptable full-service model, which enables us to support all asset types.”
Charles McGarraugh, chief strategy officer, Blockchain.com, said: “Apex has demonstrated exceptional flexibility and speed to adapt to the fast-moving world of crypto assets.
“As we provide institutional investors with a new way to access the crypto space in a regulated environment, Apex offers additional comfort to our investors as a reputable and trusted partner ensuring our full compliance and maximum operational efficiency.”
Stephen Hedgecock, CEO and founding principal, Altis Partners, added: “We’re excited to partner with a crypto-native firm like Blockchain.com to bring BCAM to market.
“This platform is further evidence of the increasing appeal of institutional grade crypto investment vehicles, and we are delighted to make it available to our sophisticated client base.”
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service