ASIC gives Raiz the all clear for retail Bitcoin fund
Micro-investment fintech Raiz is bringing Bitcoin to the masses.
Street Talk understands the $46 million fintech has jumped the final legal hurdle to enable it to go full steam ahead for its Bitcoin-exposed retail fund, after the corporate regulator gave it the go ahead.
The Australian Securities and Investment Commission has issued Raiz with a relief to operate a Bitcoin retail fund, which it intends to launch in the first half of this year. The ASIC relief was the last legal box that needed to be ticked before Raiz could proceed with its plans.
It’s an interesting move from the corporate regulator that has viewed crypto assets with suspicion in the past.
Raiz is a micro-investor best known for its “round up” offering, which enables customers to invest their virtual spare change automatically.
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