Fineqia International [CSE:FNQ] says its subsiriary has received approval of its base prospectus by the Liechtenstein Financial Market Authority to offer Exchange Traded Notes (ETNs) collateralised by digital assets. Fineqia AG is domiciled in Liechtenstein, which is a member of the European Economic Area (EEA), and which should allow it to passport investment products into the wider European Union.
Fineqia is a digital asset business that builds and targets investments in early and growth stage technology companies that will be part of the next generation of the internet. It also provides a platform to support and manage the issuance of debt securities in the UK.
Publicly listed in Canada with offices in Vancouver and London, Fineqia’s portfolio of investments includes businesses at the forefront of tokenisation, blockchain technology, NFTs, and fintech.
The base prospectus has been approved for offering across a broad range of member states, the company said last week. “The FMA’s approval of the base prospectus will allow us to provide new investment products and furthers our objective to bring innovation to the digital asset industry,” said Fineqia’s CEO Bundeep Singh Rangar. “The approval process was rigorous, and we’re pleased to have met the regulator’s criteria for the approval of a base prospectus.”
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Wide range of products could be passported
Fineqia AG’s base prospectus outlines underlying digital assets including fungible tokens such as Bitcoin, Ethereum, Cardano, Polkadot, Uniswap, Stellar and Tezos, as well as non-fungible tokens (NFTs). Exchange Traded Products (ETPs) are an overall category that can include Exchange Traded Funds (ETFs) and Exchange Traded Notes (ETNs), each of which require specific approval.
Liechtenstein has been selected as a jurisdiction by other ETP issuers including Germany’s DDA ETP AG (formerly Iconic Holdings), Guernsey-based DMAP PCC and SA1 Issuer Limited, Switzerland-based Bitcoin Capital AG and Pando Asset AG, and the Liechtenstein-domiciled VanEck ETP AG. Fineqia’s research revealed that ETPs with underlying crypto assets worldwide had a 1% increase in assets under management in February reaching $28 billion, as the crypto market value increased by 1.5% during the same month.
Fineqia International had announced the establishment of its wholly owned subsidiary, Fineqia AG, in Liechtenstein in November last year.
