On October 30, 2019, 3iQ, an investment fund manager specializing in new technologies and crypto-assets, received a favourable ruling from the Ontario Securities Commission to create the country’s first regulated crypto-currency fund: The Bitcoin Fund.
“We are particularly proud to have supported 3iQ in this process. In recent years, Catallaxy and Raymond Chabot Grant Thornton have invested time and money to develop comprehensive expertise and innovative tools to audit cryptocurrency funds. This means that we are now ready to respond to ever-growing market needs. The Ontario Securities Commission’s decision will undoubtedly have a major impact on Canada’s cryptocurrency funds sector”, said Louis Roy, Assurance Partner at Raymond Chabot Grant Thornton and President of Catallaxy.
3iQ expects to syndicate the offering as soon as possible and hopes to have the Fund listed and trading later this quarter.
The news is a very timely additional success for Catallaxy and Raymond Chabot Grant Thornton, since Catallaxy has just launched its new product, Abacus, the first software designed to audit crypto-assets. Abacus uses blockchain-related expertise to enable auditors to audit crypto-assets.
More than ever, Catallaxy and Raymond Chabot Grant Thornton are asserting their leading position on the crypto-currency market.
Congratulations to the team for this successful assignment!