Showing posts with label Europe. Show all posts
Showing posts with label Europe. Show all posts

November 25, 2017

Small firm makes big splash with first Bitcoin Fund launch in Europe

By Tedra DeSue - November 25, 2017 (

Its $10 billion in assets may be small in comparison to its larger counterparts, but Tobam’s new Bitcoin mutual fund is making big waves as it’s the first to launch such a crypto fund in Europe.

It may be considered to be small in the investment world, but Paris-based Tobam has made a huge step in terms of putting Bitcoin on the map in Europe.

It has launched the TOBAM Bitcoin Fund, which is Europe’s first Bitcoin mutual fund. The goal is to attract institutional investors, similar to the CME Group’s Bitcoin future’s launch. 

Tobam’s fund

Tobam’s website directs those wishing to know more about the deal to an article in the Financial Times. In that piece, many details were given about the fund.

One of the features about the fund is that it is classified as an alternative investment fund. Also, it is not traded on an exchange, nor does it fall under the European mutual fund structure known as Ucits.  

According to the Financial Times:

“… [the fund] has daily liquidity based on market closing prices, as is the case in most Ucits mutual funds. Tobam said it required the approval of France’s financial regulator, the Autorité des Marchés Financiers, to launch the fund.”

Answering its clients wants

The founder of the fund, Yves Choueifaty, was noted as saying he had to convince the AMF that the bitcoin fund’s “framework is protective of investors.”

He was quoted as saying:

“How to run the money and invest in cryptocurrencies is quite elaborate. We found some investors to launch the fund and we have had a lot of interest from an intellectual point of view.”

Choueifaty expressed optimism about the fund’s prospects. He told the Financial Times he’d be disappointed if the Bitcoin fund had not grown to a size of more than $400 million in the next two to three years.

Of note is that Tobam’s unregulated fund has beat CME to the punch. CME plans to launch a futures contract for Bitcoin this year, and it had to issue a clarification last week that a notice on its website stating the contract would begin trading on Dec. 11 was posted in error.

November 24, 2017

European Insurance Sector adopting Blockchain to protect data

By Jon Buck - November 11, 2017 (

It seems that Blockchain technology is becoming ubiquitous among financial and technology spaces these days. With a huge adoption curve, the new technology space is quickly finding use cases in a number of industries.

The latest addition to the Blockchain revolution is insurance, as a group of fourteen European insurance providers have partnered together with Deloitte and other firms to provide a simple system for insurers to comply with the Hamon Law, with requires insurers to provide simple transfers for clients who wish to change companies during the first year.

Data protection is paramount

The system will allow for highly secure information storage for customer data. The newest regulations from the EU, called General Data Protection Regulation (GDPR), will take effect in 2018, and could impose massive fines on companies that aren’t particularly protective of consumer data. The Blockchain technology platform will do what other technologies cannot in data protection.

The platform specifically relies on the Proof of Process technology in order to secure user data through a shared data repository. The system will limit data release to the absolute minimum for processing transactions. With increasing need for security, Blockchain is bringing substantial change for the insurance sector.

Adam Perlow Founder and CEO of Zen Protocol, said:

“If the insurer sets some money in a smart contract, and the contract pays out based on the occurrence of an event as determined by an objective actuary/oracle, then there is no need for novel incentive schemes, the insurer simply cannot avoid the payout. In the long run, as one insurance company uses smart contracts to gain the public trust, others will be forced to follow suit.”