Regulated European bitcoin exchange Bitstamp is launching a new service which enables fund promoters to accept bitcoin capital inflows from retail and corporate clients into their investment funds. This is done via a new partnership with CACEIS, Crédit Agricole’s European depository and transfer agent.
Fund promoters working with CACEIS as their transfer agent will be eligible to process fund subscriptions and redemptions in bitcoin when the service goes live in the second quarter of 2017.
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Bitstamp’s CEO, Nejc Kodric, said: “The Bitcoin industry is expanding not only geographically, but also in terms of its user base, which is why we are now seeing so many developments in the corporate investment space. Bitstamp’s first partnership with a market-leading, asset servicing bank like CACEIS means bitcoin investments can now be made within fully licensed and regulated framework. It is an honour and a privilege for us to be starting this journey as CACEIS’s first ever bitcoin exchange partner.”
Joe Saliba, CACEIS Deputy Chief Executive Officer, added: “CACEIS is delighted to announce this innovative investment facility in partnership with Europe’s only fully-licensed Bitcoin exchange, Bitstamp. Fund promoters are constantly seeking new sources of investment capital and by interfacing them with a regulated bitcoin exchange we are supporting their business development objectives. As a digital currency, bitcoin is already having a significant impact on the financial world and we have a strong conviction that this could increase as more fund promoters accept investment in bitcoin.”