International liquidity provider SSW Group has launched a private cryptocurrency fund as part of its expanding digital asset offering.
Founded in 2004, the SSW Group focuses on liquidity provision, with automated trading and efficient scalability, which the company has developed into an algorithmic-trading pioneer. The group combines state-of-the-art hardware with co-locations across the world to develop intelligence trading strategies. In addition to traditional asset classes, SSW Group has now expanded its trading business also to crypto tokens and derivative products based on these tokens.
The new private crypto fund is managed in Gibraltar by SSW Group, which was advised by Gibraltar-based law firm and FinTech experts ISOLAS LLP. ISOLAS LLP’s expertise in both funds and distributed ledger technology (DLT) ensured that the SSW Group chose the right structure in a private fund, which are extremely flexible and can be tailored to suit individual requirements.
According to the group, launching the fund in Gibraltar has provided them numerous benefits, including legal certainty on the tax regime applicable to transactions in digital assets, as well as a dynamic and its progressive ‘right touch’ approach to cryptocurrency regulation and legislation.
“We have always been focused on developing new technologies and expanding our algorithmic trading business to new asset classes,” said Dr. Reto Gregory-Petersen and Jonas Hoeflich, managing directors of SSW Group. “The launch of our new crypto trading fund with our highly skilled employees based in Gibraltar and the intelligent scalable trading software developed by CrypoStruct GmbH will help us to continue on that journey and to become a global key player in crypto and crypto derivatives trading.”
Dr. Julian Harm, managing director of the fund, said that not only will the fund benefit from the long-time experience which their Gibraltar employees have gained within SSW Group in the field of algorithmic trading and the development of sophisticated trading strategies, but they will also benefit from Gibraltar’s attractive business environment and its clear tax system, as well as a progressive ‘right touch’ approach to regulation that puts us in the right place to stay ahead of the evolving fund industry.
“The fact that earlier this year, in a report of the global crypto hedge fund landscape from PwC and Elwood Asset Management, the jurisdiction was ranked as the 3rd highest jurisdiction of choice for crypto hedge fund managers, only behind the US and UK, reconfirms our initial decision to set up the fund in Gibraltar,” Harm said.
Jonathan Garcia, ISOLAS LLP Partner and head of the firm’s investment funds practice, said in recent years they have seen a huge evolution within the fund’s industry, both in terms of assets held and the desire to locate in jurisdictions that are, not only easy to do business in, but respected, trusted and modern, adding that the group’s decision is a reflection of Gibraltar’s strengths in these areas.
“It is great to welcome yet another established business to Gibraltar, seeking to offer exposure to digital assets through a fund structure that also takes into account the specific features of the asset class,” Garcia said. “The new fund is a further vote of confidence in our evolving and respected regulatory model which has always been aimed at setting and maintaining the highest, purpose built standards. The successful launch of the fund is a testament to the work of the team at SSW Group, as well as, of course, our expert team here at ISOLAS.”
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