Two MAS-regulated Bitcoin funds launch in Singapore

by Gordon James

Two MAS-regulated Bitcoin funds have launched in Singapore, as a response to the worldwide move towards regulating cryptocurrencies. With three different types of fund available, investors are able to diversify their portfolio and earn on an investment of just S$30 ($22).

The “is cryptocurrency legal” is a question that has been asked for quite some time. Recently, two MAS-regulated Bitcoin funds have launched in Singapore.

Two MAS-regulated Bitcoin funds launch in Singapore


Fintonia Group, a Singapore-based fund manager, has created two institutional-grade Bitcoin (BTC) funds that have been authorized by Singapore’s Monetary Authority (MAS).

Fintonia said on Nov. 25 that the two funds, the Fintonia Bitcoin Physical Fund and the Fintonia Secured Yield Fund, are designed to give professional investors with easy and safe exposure to Bitcoin.

The Fintonia Bitcoin Physical Fund is aimed at institutional investors looking for direct Bitcoin exposure, enabling them to acquire, store, and trade huge quantities of the digital currency. Fintonia founder and chairman Adrian Chng allegedly said, “The fund gets real Bitcoin, meaning we will buy the genuine Bitcoin rather than a derivative instrument on Bitcoin.”

On the other hand, the Fintonia Secured Yield Fund gives investors access to private loans backed by Bitcoin. “Bitcoin is a fantastic kind of lending collateral.” It is very liquid and trades 24 hours a day, with daily volumes ranging from $30 billion to $60 billion. In compared to commodities and real estate, it can be swiftly liquidated if necessary,” Chng said.

Both funds depend on a licensed third-party custodian to store their customers’ cryptocurrency in cold wallets. According to the firm, investments are also protected against theft and hacking.

As a MAS-regulated fund manager that conforms with Know Your Customer and Anti-Money Laundering laws, Fintonia wants to decrease crypto-to-fiat friction. The release adds, “These open-ended funds offer professional investors with a recognized legal and regulatory framework, comparable to that of a traditional mutual fund.”

MAS and Fintonia did not immediately react to a request for comment from Cointelegraph.

Singapore will establish itself as a worldwide crypto powerhouse, according to regulators

Singapore’s resolve to become a key global cryptocurrency center has been reaffirmed by the news, as local officials have awarded various licenses to legitimize cryptocurrency trading in the nation. Singapore is putting “extremely robust regulation” in place, according to MAS managing director Ravi Menon, to cement its position as the world’s crypto capital.

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