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Fintonia Group Obtains Dubai Digital Assets License, Joins Binance, FTX, and Crypto.com

  • Fintonia Group offers a wide range of crypto services to both institutions and individual clients.
  • Among the notable services include crypto loans offered in USD and collateralized in Bitcoin.

Fintonia Group, a Singapore-based funds management firm, has announced that it has secured a provisional virtual asset license from Dubai authorities. Thereby joining other crypto firms seeking to venture into the greater Middle East market.

“Dubai is making significant strides toward establishing itself as a virtual assets hub and creating a conducive environment for the industry’s growth, and we are very pleased to be part of this rapid growth,” says Fintonia founder Adrian Chang.

Fintonia Group and the Market Outlook

Fintonia Group offers a wide range of crypto services to both institutions and individual clients. Among the notable services include crypto loans offered in USD and collateralized in Bitcoin.

Another flagship service by the firm is the Fintonia Bitcoin Physical Fund (FBP). Notably, the Fintonia Bitcoin Physical Funds is an institutional-grade fund that buys and holds Bitcoin.

Another notable product is the Fintonia Secured Yield Fund. Reportedly, it is an institutional grade open-ended fund that provides accredited investors with access to loans that are secured by liquid digital assets.

According to the company’s website, crypto holders can request a loan of between $1M and $50M. However, larger amounts are possible depending on the client’s credit assessment. 

Worth noting, that the company offers loans with a 1-12 month repayment period. Thereby attracting investors seeking short-term liquidity from their digital assets.

Fintonia is fully regulated by the Monetary Authority of Singapore and now by the Dubai crypto regulators. A major step toward its global reach. 

“Our focus is to grow our business in Singapore and Dubai, where we see strong digital asset ecosystems developing along with demand for the regulated institutional grade services that Fintonia provides,” Chang added.

Side Notes

Fintonia is venturing into a very sensitive market of crypto loans that has been marred with bankruptcy. Remember the likes of Three Arrows Capital and Celsius already in court for misleading investors of hefty returns and not delivering.

The crypto market has mostly grown in its trustless manner. However, it might be safe to bet that centralized DeFi dubbed CeDeFi may work perfectly. For instance, reputable institutions like Binance can offer crypto loans since they have deep liquidity and over time accrued mass trust. 

Meanwhile, the total crypto market cap stands at around $1.06 trillion, up 2.5 percent in the past 24 hours according to our data.

Bitcoin is trading at $66,563.23 while Ethereum (ETH) is trading at $3,471.19

The recent bump has been partly attributed to the recent spike in US inflation. Notably, the consumer price index (CPI), a broad measure of everyday goods and services related to the cost of living, came in at 9.1 percent in June, whereas a Dow Jones estimate was 8.8 percent.

Rebecca Davidson Verified

Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”

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