Fineqia AG has announced a partnership with Copper to provide custody solutions for its exchange-traded note (ETN) business.
On January 24, Fineqia AG announced the issuance of the world’s first ETN to deploy underlying crypto assets in decentralized finance (DeFi). The Fineqia FTSE Cardano Enhanced Yield ETN (Ticker: YADA; ISIN: LI1408648106) is listed on the Vienna Stock Exchange.
ETNs are debt instruments that track an underlying asset
Exchange-traded products (ETPs) include exchange-traded funds (ETFs) and exchange-traded notes (ETNs). ETNs, such as those issued by Fineqia AG, are debt instruments that track the performance of an underlying asset, including cryptographically encrypted digital ones.
Together with ETFs, ETNs form a broader category of ETPs that provide investors with regulated and liquid access to a variety of asset classes. The partnership agreement between Fineqia AG and Copper was signed on May 26, 2023.
Under the terms of the agreement, Copper’s services commenced upon the seeding of the ETN, which took place on December 13, 2024.
Ross Budgen, Client Solutions Director at Copper, said: “We are excited to develop a mutually beneficial relationship. Copper’s advanced custody solutions are industry leading, making us a trusted partner for firms innovating in the digital asset investment industry.”
Matteo Greco, Digital Asset Research Analyst at Fineqia International Inc, commented: “Providing secure custody solutions for the digital assets backing our ETNs is a top priority. This collaboration underscores Fineqia AG’s commitment to offering reliable and transparent products.”
Copper expanding in MENA region
Copper Securities, a division of digital asset custody, collateral management, and prime services provider Copper.co., is significantly expanding its operations in the Abu Dhabi Global Market (ADGM).
The firm secured the approval from the Financial Services Regulatory Authority (FSRA) to deal in shares, instruments creating or acknowledging indebtedness, government and public financial instruments, and units in a collective investment fund. Copper Securities’ vision is to provide a solid foundation for the expansion of local capital markets and to attract international investors to the jurisdiction, the firm said.
Expanding within the ADGM comes as an important component of Copper’s global growth strategy and follows on from last month’s appointment of Amar Kuchinad as Copper’s Global CEO. He will lead Copper’s expansion efforts, with a focus on major financial markets and global institutions.
Copper is experiencing a new growth phase that builds on the success of Copper’s ClearLoop platform, which has become the largest global network for off-exchange settlement, processing a monthly average of 20 million trades with a notional value of $100bn since the start of 2024.
Through ClearLoop, Copper enables clients to delegate funds and trade virtual balances on exchange, with settlements occurring on Copper’s infrastructure. ClearLoop’s exchange network includes nine live exchanges: Kraken MTF, OKX, BYBIT, Deribit, BIT, Gate.io, BITFINEX, Bitget, and PowerTrade, with Bitstamp and Bitmart coming soon.
