New Bitcoin Investment Fund launches in Jersey, Channel Islands.
From http://us8.forward-to-friend.com/forward/preview?u=c29e9123a2a84ae73b66f31eb&id=d6b67e9f10 Global Advisors announces world’s first regulator approved Bitcoin Investment Fund. Global Advisors Jersey Limited (“GAJL”), an investment management company based in Jersey, has today announced that it has received regulatory approval for a Bitcoin Investment fund. The Global Advisors Bitcoin Investment Fund (‘GABI’) has received certification from the Jersey Financial Services Commission (“JFSC”) and will launch August 1st 2014. The Global Advisors Bitcoin Investment Fund will operate within the Collective Investment Funds (Jersey) Law 1998 as an Expert Fund. Daniel Masters, Director of GAJL commented: “Global Advisors is thrilled to be able to bring a robust Bitcoin fund product to the market. Our long experience in commodities means we are well placed to manage volatility and performance risks in this fast growing and opportunistic asset class.” “Jersey, rightly prides itself on being among the top tier of jurisdictions when it comes to compliance and has proven many times that innovation in new financial products and the highest regulatory standards are not mutually exclusive. This is why we have chosen to domicile the Global Advisors Bitcoin Investment Fund in Jersey, to bring together the benefits of a secure environment with an exciting new technology.” “After a rigorous selection process we have chosen leading service providers Carey Olsen as legal advisers, led by James Mulholland, Moore Management as fund administrator, and Netagio and Elliptic as providers of custody services to strengthen and enhance our fund offering.” “We look forward to working with our service providers and colleagues who will be supporting GABI and helping Digital Jersey to cement Jersey’s fast growing reputation in the digital currency space.” Jean-Marie Mognetti, Director of GAJL will be attending this week CoinSummit London, at the invitation of Pamir Gelenbe and Gulnar Hasnain, organisers and founders of this event. He will be able to meet the press and seat with potential investors.
Netagio – Banking Relationship (I just received this email)
Dear customer, You may have seen some recent industry announcements that the Isle of Man financial industry has decided to withdraw its financial services support for digital currency firms (including Netagio). As our bank accounts are managed through the Isle of Man, these recent events have a direct impact on our banking relationships. As such, I wanted to write to you as quickly as possible to set out our position, and to provide some assurance that we are actively invoking an alternative approach in order to continue our service with minimal impact for our customers. In preparation of the British banking system having a change of heart, we set up a number of alternative banking arrangements to hedge against this potential eventuality and we are in a strong position to quickly invoke those relationships. More encouragingly, we are pleased to say that not long after we were made aware of the recent decisions, we were approached and are actively meeting with other banking providers in order to achieve the best possible alternative banking arrangements for our customers. When we set up Netagio in June 2013, we anticipated that the world of bitcoin investments represented a new wave of innovation and enterprise for the British financial industry. As a supporter of FinTech in the UK, we are very keen to support this growth and to help build the UK’s position as a leading centre of innovation despite the recent developments. Please be assured that we will be communicating proactively and regularly with you to ensure you are informed of our progress. In the meantime, the Netagio team remain at your disposal and please do contact us either by phone or email and we will be happy to answer any questions you might have. Our official statement to the press can be found here. I look forward to writing to you again soon with a further update. Yours sincerely Simon Hamblin Co-founder & CEO
UK-based gold and bitcoin exchange Netagio has announced a new partnership with payment services provider WalPay that will give it vital access to the traditional banking system. The new relationship means Netagio customers can now deposit funds and receive international payments in GBP, EUR and USD. The firm indicates that other currencies are to follow in the future. Netagio already holds large shares of several international markets, controlling about 27% of the USD market and 2.5% of the EUR market. This news comes on top of the several advances the exchange has already made. Netagio was one of the first exchanges to make gold an option for buying and selling Bitcoin. On February 16, 2015, Netagio, a Bitcoin exchange in Europe, announced that it would be closing on March 18 th, 2015. Netagio closed the order books on February 16, as well as the Bitcoin, GBP, USD, and EUR exchange platform. Netagio is not filing for bankruptcy or closing — it is just changing its business model. UK-based company Netagio has announced that it will close its bitcoin, pound, US dollar and euro exchange platforms as of today. The news marks the start of a 30-day notice period for its Home › Latest News › Netagio Exits The Bitcoin Ecosystem & Moves To Wealth Storage. Technology. Netagio Exits The Bitcoin Ecosystem & Moves To Wealth Storage. February 16, 2015 By CoinJournal Press Team. Bitcoin is thriving all around the world, yet that doesn’t mean it is easy for digital currency-related companies to thrive as well. As
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