A regulated and insured bitcoin fund has been launched in Malaysia to serve the region's institutional investors.
- According to an announcement Monday, the BCMG Genesis Bitcoin Fund-I (BGBF-I) falls under the oversight of the Labuan Financial Services Authority in Malaysia and is said to be the first insured bitcoin fund in Southeast Asia.
- The fund will be administered by Alpha Calibration, while Hong Kong-based HLB Hodgson will be responsible for the auditing. Labuan-based IBH Investment Bank is to serve as the primary fund adviser.
- The BGBF-I fund will use an artificial intelligence-powered blockchain-based platform from insured crypto exchange CGCX.io to minimize transaction costs and store crypto assets.
- Investment subscription contracts will be held in custody at regulated banks for added security, per the announcement.
- The fund will invest in market makers, bitcoin liquidity providers and other cryptocurrency investment opportunities, per its website.