Swiss Based ETP Provider Amun Receives Clearance From Swedish Regulator December 10, 2019 December 10, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsDecember 10, 2019 by Kelly Cromley

Swiss Based ETP Provider Amun Receives Clearance From Swedish Regulator

Amun AG, a Swiss firm focused on cryptos, has obtained necessary clearance to sell its products to interested retail customers in the EU.

Amun, through a news release, has stated that it has received endorsement for an introductory prospectus it tabled with the Sweden’s finance regulator, the Swedish Financial Supervisory Authority (SFSA).

As the firm has received regulatory clearance, the firm is now allowed to market several exchange-traded products (ETPs) to retail customers all across the EU.

Ophelia Snyder, president of Amun, commended the approval by the regulator. Snyder said “We recognise that the regulatory framework in Sweden has been supportive of such initiatives and we welcome its deliberation.”

Snyder further stated that ETPs are always in demand all over the 28-member bloc:

“The combination of strong demand for ETPs in Sweden – especially in crypto assets – among private investors and institutional clients and our strong expertise in these product categories create ideal conditions for Amun’s entry into the Swedish and European Union markets for ETPs.”

Amun has so far played a significant part in the roll out of country’s crypto offerings, within and outside the country. Notable ones is the tailor made ETP created based on Binance Coin (BNB), in-house crypto of Binance exchange. The ETP was rolled out on the Swiss Stock Exchange, or SIX, in October.

In the future, the company stated that it intends to launch more ETPs, with commitment to maintain “highest standards of professionalism and looks forward to continuing a productive and collaborative relationship with new and existing partners in Sweden and the rest of the European Union.”

In November, SIX unveiled a Tezos (XTZ)-based ETP that offers staking rewards. The feature permits users to “stake” their holdings to assist in keeping the Tezos network balanced, while earning rewards passively. A week before, SIX rolled out an institutional ETP based on Bitcoin that is physically backed, with Swissquote bank serving as a custodian of the crypto.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.