🚀 Coinshares Expands To US With New York Office
#Coinshares #NewYork #USExpansion #DigitalAssets #ValkyrieFunds #ETFs #Investment #FinancialMarket #InstitutionalClients #RetailClients
According to BlockBeats, European digital asset investment firm Coinshares International has announced the opening of a new office in New York City, marking a significant step in its U.S. expansion strategy. This move aims to strengthen the company's influence in the U.S. financial market and follows its acquisition of Valkyrie Funds. The newly established New York office will serve as the core of Coinshares' U.S. operations, enhancing the company's ability to serve the rapidly growing institutional and retail client base in the country. The company is actively recruiting for sales, marketing, and compliance positions to support this expansion plan.
With the acquisition of Valkyrie Funds, Coinshares has increased its assets under management to $5.5 billion. Valkyrie Funds is known for its actively managed exchange-traded funds (ETFs), including popular products like the Coinshares Valkyrie Bitcoin Fund and the Miners ETF. Coinshares CEO Jean-Marie Mognetti stated, 'The establishment of the New York office is a milestone in our entry into the U.S. market, highlighting the growing importance of digital assets in the global financial ecosystem. This not only enhances our ability to collaborate with U.S. stakeholders but also solidifies our leading position in the development of the digital asset industry.'#Coinshares #NewYork #USExpansion #DigitalAssets #ValkyrieFunds #ETFs #Investment #FinancialMarket #InstitutionalClients #RetailClients
🚀 Jingji Financial International Seeks Approval For Virtual Asset Services
#JingjiFinancial #VirtualAssets #HongKong #TradingServices #AdvisoryServices #SecuritiesCommission #FinancialServices #RetailClients
According to Odaily, Hong Kong-listed company Jingji Financial International has announced that its wholly-owned subsidiary, Jingji Securities, plans to apply to the Hong Kong Securities and Futures Commission. The application seeks approval to offer virtual asset trading services through an omnibus account arrangement and to introduce virtual asset advisory services. The company's board stated that the introduction of advisory services related to these assets would significantly expand the group's service offerings. If the potential application is submitted and approved, the company expects to broaden its customer base and diversify its service range by launching virtual asset trading and advisory services targeted at retail clients.#JingjiFinancial #VirtualAssets #HongKong #TradingServices #AdvisoryServices #SecuritiesCommission #FinancialServices #RetailClients
🚀 Santander Bank Explores Expansion in Digital Assets Amid European Banking Trends
#SantanderBank #DigitalAssets #Stablecoin #Cryptocurrency #EuropeanBanking #Openbank #CryptoServices #RetailClients
According to BlockBeats, Banco Santander SA is considering expanding its digital asset operations as European banks increasingly focus on this sector. The Spanish bank is exploring initial plans to launch a stablecoin and provide cryptocurrency services to retail customers through its digital banking platform.
Sources familiar with the matter indicate that the stablecoin initiative is still in its early stages. Due to the private nature of these discussions, the sources requested anonymity. One source revealed that Santander's online banking subsidiary, Openbank, has applied for the necessary licenses under the latest EU regulatory framework to offer crypto services to retail clients.#SantanderBank #DigitalAssets #Stablecoin #Cryptocurrency #EuropeanBanking #Openbank #CryptoServices #RetailClients
🚀 NYDFS Issues New Guidelines for Cryptocurrency Custodians
#NYDFS #cryptocurrency #custodians #digitalassets #beneficialownership #bankruptcy #virtualassets #institutionalclients #retailclients #subcustody #rehypothecation #unsecuredlending #duediligence #contractualterms #informationdisclosure #2025update
According to PANews, the New York State Department of Financial Services (NYDFS) has released updated guidelines for licensed cryptocurrency custodians (VCEs). The primary requirement of these guidelines is that custody structures must ensure that the beneficial ownership of digital assets remains with the clients, even in the event of the custodian's bankruptcy.
NYDFS stated that this update addresses the growing demand for virtual asset custody from institutional and retail clients, as well as the increasingly complex "sub-custody" relationships within the industry. The new guidelines explicitly prohibit custodians from using client assets for activities such as rehypothecation or unsecured lending without explicit permission and informed consent, which could compromise client ownership. Additionally, stricter due diligence, contractual terms, and information disclosure requirements have been imposed on custodians using sub-custody arrangements.
The guidelines aim to provide greater clarity and confidence to clients and encourage licensed entities to review their custody structures and client agreements. This 2025 update is now in effect, replacing the previous version from January 2023.#NYDFS #cryptocurrency #custodians #digitalassets #beneficialownership #bankruptcy #virtualassets #institutionalclients #retailclients #subcustody #rehypothecation #unsecuredlending #duediligence #contractualterms #informationdisclosure #2025update
🚀 Hong Kong Regulator Fines Saxo Financial for Virtual Asset Product Misconduct
#HongKong #SecuritiesAndFuturesCommission #SaxoFinancial #VirtualAssets #TradingPlatform #FinancialRegulation #RetailClients #Penalty #SFC #Compliance #Derivatives #FinancialProducts #InvestmentKnowledge #VirtualAssetProducts #RegulatoryAction
According to Foresight News, the Hong Kong Securities and Futures Commission (SFC) has reprimanded Saxo Financial (Hong Kong) Limited and imposed a fine of 4 million HKD. The penalty was due to Saxo Financial's deficiencies in distributing virtual asset funds and related products on its online trading platform, which were not recognized by the SFC. During the period from November 1, 2018, to November 25, 2022, Saxo Financial allowed retail clients to trade certain virtual asset products on its platform.
The SFC's investigation revealed that Saxo Financial executed 1,446 transactions involving 32 virtual asset products for six individual professional investors and 130 retail clients during the specified period. These products were classified as complex, including 21 exchange-traded derivative products related to virtual assets. Saxo Financial failed to assess whether clients had the necessary knowledge to invest in these virtual asset products and did not provide adequate information or specific warnings about virtual assets, thereby not complying with the guidelines set out in two SFC circulars effective at key times.#HongKong #SecuritiesAndFuturesCommission #SaxoFinancial #VirtualAssets #TradingPlatform #FinancialRegulation #RetailClients #Penalty #SFC #Compliance #Derivatives #FinancialProducts #InvestmentKnowledge #VirtualAssetProducts #RegulatoryAction
🚀 Fidelity Launches Stablecoin Pegged to U.S. Dollar
#Fidelity #Stablecoin #USDollar #FidelityDigitalDollar #FIDD #GENIUSAct #Ethereum #NS3AI #RetailClients #InstitutionalClients #Cryptocurrency #Blockchain #ETH
Fidelity Investments has introduced the Fidelity Digital Dollar (FIDD), a stablecoin pegged 1:1 to the U.S. dollar, in compliance with the GENIUS Act. According to NS3.AI, the stablecoin is accessible to both retail and institutional clients through Fidelity's platforms and third-party exchanges where it is listed. This initiative signifies Fidelity's entry into the stablecoin market, utilizing the Ethereum blockchain.#Fidelity #Stablecoin #USDollar #FidelityDigitalDollar #FIDD #GENIUSAct #Ethereum #NS3AI #RetailClients #InstitutionalClients #Cryptocurrency #Blockchain #ETH