Frankfurt, 21 May 2024 - Liqwid Finance ("Liqwid"), an open source, algorithmic and non-custodial interest rate protocol built for lenders, borrowers and developers, is collaborating with issuance.swiss AG (the issuer of ETP) to introduce CASL, a groundbreaking financial listed vehicle in the digital asset realm. CASL not only tracks the performance of its underlying Cardano token ADA, recognised for its extensive academic peer-reviewed research, but also generates staking rewards. Admitted to the exchange as an Exchange Traded Product (ETP), the product is already available to investors on the Swiss SIX exchange and as of 22 May on the regulated segment of Deutsche Börse XETRA (WKN A4AFBK, German ticker CSLE, ISIN code CH1327686056).
More rewards, less management fee, higher profitability
According to the co-founder of Liqwid Finance, Florian Volery, "CASL combines the advantages of a traditional product with the staking rewards inherent in blockchain technology. It's accessible, cost-effective, effortless and secure. With CASL, we aim to take a transformative leap, one that will establish a new standard for digital asset management." Until now, most financial instruments in the crypto sphere have granted access to underlying asset developments (Bitcoin, Ethereum, ADA, etc.), but CASL offers more by redistributing staking rewards to investors.
This dual return on investment, coupled with lower management fees (1.5%) provides investors with unparalleled benefits. Finally, the fund is fully backed by physical stocks of ADA tokens securely held in an offline ("cold") wallet. CASL ETP provides instantaneous liquidity without any lock-in period, leveraging the flexibility of Cardano's blockchain.
Cardano, one of the safest networks worldwide
Liqwid, the company behind the innovative idea, carries out the staking of ETP's ADA tokens on the Cardano network, which has remained operational without any outages over the past five years. In contrast, its major competitors, such as Solana, Ethereum, and Avalanche, all based on proof-of-stake consensus, have experienced interruptions. Cardano's scientific-based technology is evidenced by a vibrant ecosystem of companies building innovative applications and supported by over 4.5 million wallets. Its network is widely regarded as the most decentralised and secure in existence. The Cardano blockchain has been adopted by the Refugees Agency of the United Nations (UNHCR) to help raise funds using staking to support people forced to flee.
For Bruce Jackson, Head of Digital Assets at Apex Group, "There is a strong interest among investors for easily accessible crypto assets such as CASL. The first listing of CASL on the Swiss SIX Exchange on March 2024 proved the appetite for a new generation of crypto ETPs, enabling investors to earn returns but also contributes to the decentralisation of the network, a crucial aspect for blockchain to serve as a financial platform and create a more inclusive world." Tim Brückmann, CASL partner and founder of IAMX, emphasises the potential of blockchain to bank the unbanked once digital ID is integrated, potentially onboarding millions of individuals onto the Cardano blockchain.
To find out more: see attached factsheet
Press Contact: press@liqwid.ch or +41 79 269 53 31
About Liqwid Finance
Liqwid is a liquidity protocol for lending and borrowing Cardano native assets. The Liqwid protocol is composed of decentralised, audited smart contracts built on the Cardano blockchain. Smart contracts enable users to deposit liquidity into a money market, earn interest and open over-collateralized loans directly, without intermediaries and in a secure manner. The platform was launched in February 2023 and currently holds over 65 million ADA tokens on its protocol. Liqwid's mission is to build bridges between decentralised and traditional finance, with the aim of financing the real economy through blockchain technology.
About IAMX
IAMX is a provider of Self-Sovereign Identity (SSI) services and developer of identity management platform headquartered in Zug, Switzerland. IAMX at the forefront of the Web3 revolution, bringing the world's most secure and user-friendly SSI solution to the Internet. Their commitment is to help improve the world through the confidence and security of owning one's own identity. Their mission is to protect the human right of every individual to hold, control, and own their personal identity. About issuance.swiss AG
issuance.swiss AG is a Special Purpose Vehicle (SPV), an ad hoc structure dedicated to listing financial products on Europe's regulated stock markets. Headquartered in Zug, Switzerland, and affiliated to Apex Group Ltd, a global financial services provider, issuance.swiss AG offers a turnkey solution for European and American customers to implement their simple and complex digital asset strategies on the regulated market in the form of an exchange-traded product. Thanks to its autonomous structure, Issuance.Swiss AG enables these clients to manage the compliance constraints that surround the management of digital assets. Issuance.swiss AG integrates all the service providers required for rapid market launch, and controls all operational costs.
About Apex Group Ltd.
Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 13,000 employees globally, Apex Group provides services into 50 jurisdictions delivering an expansive range of services to asset managers, financial institutions, private clients, and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry; including fundraising solutions, fund administration, digital onboarding and bank accounts, depositary, custody, super ManCo, corporate services and a pioneering ESG Ratings and Advisory solution. Apex Group's purpose is to be more than just a financial services provider and is committed to driving positive change to address three core areas; the Environment and Climate Change, Women's Empowerment and Economic Independence, Education and Social Mobility.
