This article was first published on Fintech News Singapore.
Singaporean crypto fund manager Fintonia Group has secured a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS).
This will enable Fintonia to continue expanding and providing innovative investment solutions and products to its clients.
The CMS license is part of Fintonia’s expansion plan, which includes its two institutional-grade Bitcoin funds launched in late 2021 for professional investors looking for a direct secure exposure to Bitcoin in a regulated environment.
In July 2022, Fintonia received a provisional virtual asset license granted by the Dubai Virtual Assets Regulatory Authority (VARA) and is looking to clinch a full license in the future.
“We are excited about this license upgrade and the opportunity to collaborate with partners who share our belief that licensed and regulated institutions will drive the next phase of growth in the digital assets and crypto industry. At Fintonia, we are committed to providing our clients with the highest level of security and trust in their investments, through our extensive range of services including fund products, treasury management solutions, and wealth management.”
said Adrian Chng, Founder of Fintonia Group.