A&G Launches First Crypto Fund in Spain
A&G, a Spanish banking entity focused on private banking, has launched the first crypto fund under Spanish jurisprudence. The fund, which will be accessible to professional investors only, has been launched as a hedge fund. It will be managed by A&G and audited by PwC. The asset servicing banking group of Crédit Agricole and Santander, CACEIS, will act as the depositary for the fund.
Key Points:
- The A&G crypto fund is available to professional investors only.
- The fund will be managed by A&G and audited by PwC.
- CACEIS, the asset servicing banking group of Crédit Agricole and Santander, will be the depositary for the fund.
- This is the first crypto fund to be launched under Spanish jurisdiction.
- The Bank of Spain has started issuing licenses for crypto service providers and is planning to launch a central bank digital currency (CBDC) project.
Hot Take:
The launch of the first crypto fund under Spanish jurisdiction is a significant step forward for the crypto industry in Spain. It provides an opportunity for professional investors to enter the world of cryptocurrencies, although it is important to note that the fund carries a high level of risk. With the Bank of Spain also exploring the possibility of a central bank digital currency, it is evident that the country is embracing the potential of cryptocurrencies and blockchain technology.
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