The Swedish Financial Supervisory Authority (SFSA) has given permission to Swiss financial startup Amun AG to offer its products to retail clients in the EU, the company announced in a press release on 10 December.
According to the announcement, the Swiss finance regulator approved a base prospectus filed by the firm, allowing it to market its Exchange-Traded Products (ETP) to retail clients across EU member states.
Investors that have access to Germany’s Boerse Stuttgart and Swiss SIX exchange can now begin to trade the firm’s crypto products.
The president of Amun, Ophelia Snyder, commented:
“The combination of strong demand for ETPs in Sweden – especially in crypto assets – among private investors and institutional clients and our strong expertise in these product categories create ideal conditions for Amun’s entry into the Swedish and European Union markets for ETPs.”
Thanks to Europe’s “single passport” rule, Sweden was able to review and issue a license to Amun, which is applicable across all EU member states.
With the SFSA’s approval, the company plans to expand its market access across Europe and further apply to list its crypto ETPs on even more regulated exchanges.
Currently, the company has around $55 million in assets under its management, all being crypto-based ETPs, with Boerse Stuttgart listing seven of its products, while the Swiss SIX lists ten of them.
Most recently, the company launched an ETP in partnership with digital asset bank Sygnum, under the “MOON” ticker.
In October, the firm also partnered with Binance in order to launch a Binance Coin (BNB) ETP on the Swiss Stock Exchange. The company has also helped the Swiss SIX exchange’s clients to generate passive income through a partnership with the Tezos Foundation, which saw Amun launch a Tezos ETP under the “AXTZ” symbol.
Amun AG has also said that it plans to increase the number of ETPs it offers, and that it is “committed to maintaining the highest standards of professionalism and looks forward to continuing a productive and collaborative relationship with new and existing partners in Sweden and the rest of the European Union”.