After receiving dual pre-operational approval from the Bermuda Monetary Authority, the head of a new crypto firm is calling the island “a world-class risk management ecosystem”.

Andrej Majcen, cofounder and group chief executive of the firm said the approval allows them to offer investment advisory and discretionary portfolio management services for professional and institutional clients in Bermuda.

Mr Majcen posted the news on his LinkedIn and X accounts shortly after returning to the United Arab Emirates from the Bermuda Digital Finance Forum in Bermuda last month.

“When we started Bitcoin Suisse our goal was merely to build Switzerland’s leading crypto platform,” Mr Majcen said.

The firm’s core services, custody, trading and staking, were built to give clients secure, reliable access to digital assets at a time when the market was still nascent and fragmented.

“Together with our in-principal approval in Abu Dhabi, we are transitioning towards becoming a global wealth management platform, and potentially one that extends beyond crypto as an asset class,” he said.

He added that institutional capital tends to treat digital assets as a permanent allocation, not a tactical bet.

“Those investors expect the governance standards they would get from any traditional financial services partner,” he said. “They just also need someone who actually understands crypto. We are probably one of very few firms that can credibly offer both.”

Mr Majcen said Bermuda made sense for their business because of its digital assets framework introduced in 2018.

“The regulator is genuinely business-oriented,” the CEO said. “Together with our in-principle approval in Abu Dhabi, we now have an international foundation we didn’t have two years ago.”