Geneva Management Group (GMG), a global financial solutions provider serving both institutional as well as private clients, has added a Crypto Solutions department to its diverse suite of expert offerings.
Dave Elzas, CEO of GMG said: “We witness an increasing interest in virtual currencies and blockchain technology among our clients, many of whom are entrepreneurs and extremely technology savvy. The successful solutions we’ve already provided to many of our clients in this field, enabled us to set up a strong internal team to serve this growing demand.”
Mathieu Saint-Cyr, managing director, Crypto Solutions added: “While ultimately the purpose of Crypto and Blockchain is to “democratize” transactions by allowing peer-to-peer settlements, currently the lack of harmonized regulation and infrastructures leads investors to seek scarce professional support with due diligence, KYC and convertibility of Crypto assets into the classic “fiat” currencies such as the Euro, Dollar etc. As a regulated financial solutions provider, GMG has developed the expertise to bridge this gap.”
In establishing this new department, “We have put together a team of specialists, providing a full suite of trading, analysis, corporate services, fund formation and management” he added.
Since transactions involving virtual currencies are all digital in nature, there are no physical limitations imposed by borders, and so clients located anywhere in the world will be able to draw on the specialist services offered by GMG. However, laws and regulations differ in various countries and are in the process of being written to provide a stable legal framework for cryptocurrencies and blockchain technology applications.
“In setting this new department up, GMG has created its own, secure e-wallet, allowing us to receive payment from clients in any recognised cryptocurrency,” Elzas continued. “Furthermore, our existing wellestablished relationships with our banking partners makes cashing out from cryptocurrencies a seamless process. So, too, as regards the conversion between cryptocurrencies – here we will draw on the strong relationships we hold with various exchanges and liquidity providers.”