The SEC-regulated firm for the investment management of digital assets, Wave Financial LCC, declared to have obtained a minority Stake in Criptonite Asset Management (a crypto investment management firm based in Switzerland). This is categorized as the initial move toward a strategic complete acquisition, liable to regulatory authorization (which is anticipated to be accomplished by this year’s end).
Wave Financial Gets a Stake in Criptonite Asset Management
The acquisition is witnessed after a systematic collaboration between the 2 firms in the previous year as well as Criptonite’s release of many Actively Managed Certificates (AMCs) related to the digital assets funds under Wave Financial in Europe, taking into account the Wave Bitcoin Income & Growth along with NFT funds. With this acquisition, Wave and Criptonite will have the capability to be benefited from the expanding demand for regulated products from the investment funds of digital assets in Europe.
Wave Financial’s President International, Matteo Dante Perruccio, stated that they have witnessed unprecedented requirements for organizational as well as the rest of the accredited investors in the case of the funds of digital assets that are professionally managed within Europe. The executive mentioned that their partnership with Criptonite will be taken to another level after the respective move. He added that both the venues share a focus on compliance and risk management.
As per him, their collaboration for the previous 12 months has played a significant role in this respect. Perruccio revealed that this acquisition counts as the initial which is being accomplished by Wave Financial external to the United States but not the last because they are attentively persuading their collaborators to offer their solutions and digital assets to qualified investors across the globe.
Wave Financial Eyes Further Expansion within Europe and the Other Areas
Wave Financial’s CEO and Co-Founder, David Siemer, disclosed that with a status of being regulated under the SEC, the digital asset management platform has shown a great level of risk management to effectively steer the market disruptions that took place recently. In his words, Wave has a golden chance to be benefitted from the resilient balance sheet thereof.
According to him, they have a great opportunity during the current bear market to keep on expanding their span organically and with the acquisition of the managers of crypto assets. he moved on to say that the company is interacting with diverse asset management venues, lenders, and exchanges to have a stronghold across Europe as well as beyond.
Criptonite AM’s CEO and Founder, Florian Rais, was of the view that they were in advance pleased with the provision of an operating license by FINMA to them. Nevertheless, at the moment – as they have the opportunity to move side-by-side with Wave Financial (which is registered under the SEC) – they are truly excited.
The CEO pointed out that they will have an exclusive opportunity to offer an exceptional investment offering. The investment talents and the client references of Wave can be of great help to answer the stringent requirements of Criptonite’s consumers, he added.
