According to an article published by Institutional Asset Manager, on June 25, 2019, ITI Funds has collaborated with Bitfury Group to implement a process for cryptocurrencies transactions compliant with the KYC and AML procedures applicable to funds and investment management companies. This tool expands further ITI Funds’ crypto services.
ITI Funds, the Crypto Gateway for Institutional Investors
ITI Funds, a global fintech provider of investment solutions established in 2015, launched one of the world’s first institutional crypto fund with $70 million of assets under management in December 2018. The company, specialized in developing unique products in financial technologies, aims to be a unique gateway to crypto asset classes for institutional investors and asset managers.
There is a lack of modern client-oriented products for fund managers and investors in hedge funds, especially for digital assets operations. ITI Funds is trying to take advantage of market momentum by filling this gap.
Their solution is similar to general exchange-traded funds (ETFs) and the legal structure is familiar to both institutional and private investors. It is a “fiat-to-crypto” fund domiciled in Luxembourg with a transparent and clear approach when it comes to KYC and AML procedures.
The Fund choose their asset among the 30 most-capitalized crypto assets, including bitcoin, ether, XRP, bitcoin cash, litecoin, Zcash, stellar, ethereum classic, and bitcoin gold. To be included in the index’s investment universe, the assets must comply with a list of strict rules: admittance to listing on recognized and licensed exchanges, eligibility for insured cold storage and underlying liquidity.
Partnership with Bitfury to further Strengthen their Compliance Procedure
Crystal is able to analyze the Bitcoin blockchain (or others) in detail in order to identify suspicious transactions or malicious users.
Precisely for these reasons, ITI Funds has decided to integrate the service of the mining company. Crystal will, in fact, be used to further facilitate the investment process for institutional clients, allowing them to identify “toxic” or crime-related crypto assets.
The Crystal platform will be deployed as a tailor-made solution for investment professionals in a number of jurisdictions through ITI Funds’ infrastructure, including Luxembourg and the Cayman Islands.
This type of service shows how much the cryptocurrency market is maturing. Institutions are eager to enter this market, the only thing that has been missing so far are services that would allow them to meet their needs.
With their long-term vision, institutional investors bring some solidness to crypto and could be the spark that officially gives the launch to the next bull run.