InCore Bank, the Swiss B2B banking service provider, has announced the launch of the first comprehensive crypto asset solution.
The solution named CRYSP was established in cooperation with GenTwo Digital, the specialist provider of modern securitisation platforms for digital assets.
It also allows asset managers, whether they are from a bank or external, to build bankable products based on cryptocurrencies, and then offer them to their clients in the form of actively managed certificates (AMC) without having to deal with the entire set-up.
Mark Dambacher, CEO of InCore Bank AG commented: “With CRYSP, we are thrilled to make it easier than ever before for banks and asset managers to offer investments in digital assets. The fact that we are close to issuing and trading the first certificates is a testament to the market’s dynamism.”
Two asset managers have already announced they will launch investment products using the solution in the second half of 2021. The first products on CRYSP are co-created by Zurich-based DuLac Capital as well as Zug-based CV VC. The two initial crypto asset investment solutions allowing investors to enter this promising segment are: 1) a basket of the eight largest coins traded on Kraken and 2) a selection of so-called DEFI tokens.
Mapping out the solution’s offering, the firm added: “GenTwo Digital establishes and coordinates the securitisation platform and calculates the value of the certificates. InCore Bank operates and represents the crypto asset solution. In parallel, the Zurich-based transaction bank acts as paying agent.
“The execution of trades and the custody of the assets will be done through Kraken’s leading platform. As the leader in euro volume and liquidity for crypto, clients will get access to more than 70 different assets and trading in seven different fiat currencies.”