The pandemic has caused financial concern for many, but particularly for the younger generation, who are now facing uncertain career prospects and the rising cost of living. Individual accredited investors using the ADDX platform today come from 27 countries, spanning Asia Pacific, Europe, and the Americas (excluding the US).īy Hamzah Almasyabi, CEO at Minted TM, an investment platform which allows individuals to buy and sell precious metals. Its shareholders include Singapore Exchange (SGX), Temasek subsidiary Heliconia Capital and Japanese investors JIC Venture Growth Investments (JIC-VGI) and the Development Bank of Japan (DBJ).
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Launched in 2017, the financial technology company raised US$50 million in its Series A round in January 2021. As Singapore establishes itself as an important global hub for regulated crypto activity, ADDX seeks to make a positive contribution to the crypto landscape of the city, by adding to the rich diversity of high-quality offerings available to investors.”ĪDDX, previously known as iSTOX, is a full-service capital markets platform with Monetary Authority of Singapore (MAS) licenses for the issuance, custody, and secondary trading of digital securities.
The team led by Jon Deane has deep expertise in both traditional finance and the crypto space, and this is reflected in their rigorous approach to conceptualising and bringing to market this institutional-grade fund. Ms Choo added: “ADDX is pleased to work with Trovio on this first crypto offering to investors on our platform. Professionally managed crypto funds with a good track record can potentially address these risk concerns for investors.” The more relevant question now is around how one should manage the risk of crypto investments, from an asset custody as well as a price volatility standpoint. We believe the time for discussing whether cryptocurrencies have a place in an investment portfolio is all but over. But today, major financial institutions either have a crypto offering or are seriously considering one. The traditional world of finance tried to keep a cautious distance initially. There is robust demand among investors for exposure to these digital assets. Oi Yee Choo, Chief Commercial Officer of ADDX, said: “Cryptocurrencies are very likely the digital gold of our age. We look forward to working with the ADDX team on launching our other products over the coming months.” ADDX’s platform is enabling investors to seamlessly access these asset classes, whilst reducing friction often experienced via traditional channels. We are continuing to witness significantly wider adoption and appreciation of digital assets as a standalone asset class in a diversified portfolio. Mr Deane said: “It has been a fantastic experience bringing our flagship fund to ADDX’s MAS-regulated platform. He was Managing Director and Head of Asia Commodities Trading at JP Morgan from 2014 to 2018. Trovio CEO Jon Deane has more than 15 years of experience managing large complex risk positions for investment banks, including JP Morgan and UBS AG. The fund’s minimum investment size is US$10,000.įounded in 2017, the Australia-based Trovio Group is led by veteran bankers Jon Deane and Bob Tucker.
Investors on the ADDX platform can subscribe to or redeem units each month with the fund manager. Custody and trading services are provided by the Nasdaq-listed Coinbase. It is among the first digital asset funds to be audited by KPMG. Relying on an institutional-quality infrastructure, the fund has an independent administrator, auditor and custodian. The fund recorded a net return of 215% in 2020 and 205% in the first ten months of 2021.
On top of core positions in Bitcoin and Ethereum, the fund invests in a set of seven other top-performing cryptocurrencies that are identified and reviewed regularly through a proprietary method of quantitative analysis. The TCM Digital Asset Fund takes a diversified approach to crypto investing. The fund aims to provide accredited investors with a reliable option for crypto investing and has put in place institutional-grade safeguards in relation to the trade execution and custody of the fund’s underlying digital assets. Private market exchange ADDX has launched its first cryptocurrency product, with the listing of a digital asset fund by investment manager Trovio Capital Management (TCM). The fund, which aims to offer a reliable option for crypto investing, recorded a net return of 215% in 2020 and 205% in the first ten months of 2021
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