Amun AG, a Swiss fintech firm that issues various crypto exchange-traded products (ETPs), has recently received approval to expand to markets in the European Union.

The firm confirmed this in a press release published on Dec. 10, noting that the company’s filing for a base prospectus had been approved by the Swedish Financial Supervisory Authority (SFSA).

Originally, the firm only marketed its crypto ETPs in Switzerland and Germany. However, with this regulatory approval, it can now expand its business to countries in the European Union.

Expressing the firm’s appreciation for Sweden’s regulatory framework, the President of Amun, Ophelia Snyder said, 

We recognize that the regulatory framework in Sweden has been supportive of such initiatives and we welcome its deliberations.

She also mentioned that the primary reason for the firm’s expansion into the EU was due to the high level of demand for crypto ETPs by both private investors and institutional clients.

She further revealed that the entire process was completed in just four months of its consultancy period and that the firm’s main objective is to offer a secure and cost-effective cryptocurrency investment platform to its clients utilizing the crypto ETPs.

In conclusion, the firm said that it is ” committed to maintaining the highest standards of professionalism and looks forward to continuing a productive and collaborative relationship with new and existing partners in Sweden and the rest of the EU.”

Earlier in October, Amun had partnered with the cryptocurrency exchange, Binance, to launch an ETP for Binance’s native token, Binance coin (BNB), which was listed on the Swiss Stock Exchange (SIX).

Source: Coinfo mania