Apex Group said on Monday it has been appointed by the NEOR Crypto Volatility Fund Ltd to provide it with administration and transfer agency services. The fund, registered with the Cayman Islands Monetary Authority, will be managed by Switzerland-based Eagle Eye Finance Sàrl, supervised by Swiss financial regulator FINMA.
The NEOR fund offers investors an opportunity to monetise volatility within digital asset markets by applying proprietary algorithms to its investment strategies. “We challenge the prevailing long-term crypto buy and hold strategy,” the fund’s website said.
Cutting edge
“This appointment demonstrates the extent to which our offering has evolved to truly serve all asset classes from the traditional to the most cutting edge,” said John Bohan, Co-Founder and Country Head Business Development (Ireland), Apex Group, in a press release.
Apex said its services will allow NEOR to communicate with investors and implement investor due diligence processes which are enabled by technology solutions to expedite and simplify daily investment management tasks.
“We are pleased to be partnering with Apex, who share our forward-looking approach to fund development and adaptability to new products and asset types,” said Rodolphe Chatagny, Founder and CEO, Eagle Eye Finance Sàrl, which will serve as investment manager for NEOR.
Regulatory compliance
“As we provide investors with a way to access the crypto space in a regulated environment, Apex is a reputable and trusted partner to ensure our full regulatory compliance,” he said.
The fund’s co-founder Phillip Morelle said the cooperation with Apex and Eagle Eye brings together the worlds of algorithmically traded cryptocurrencies and institutional ownership. “Apex has brought an understanding of the regulatory nuances and compliance requirements, instilling confidence in our stakeholders,“ he said.
The NEOR fund represents a regulated avenue for investment in the evolving crypto currency asset class, said the APEX press release. Through the launch of NEOR, investors can now engage in the cryptocurrency space within the framework of internationally recognised regulation.
Machine learning
NEOR was founded by Morelle together with Omri Shai, Nicolas Jenik, Ezer Bar Aviv and Roer Bar Aviv. The team’s experience includes social gaming, investment banking, machine learning, artificial intelligence, software design and venture capital.
Apex, established in Bermuda in 2003, is a global financial services provider with 50 offices worldwide and 5,000 employees. It offers a range of services, including fund services, digital onboarding, depositary, custody and super ManCo services. In Luxembourg Apex is present through FundRock and LRI Invest.
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