Southeast Asia welcomes its first insured bitcoin fund in Malaysia

17, Mar. 2021

Southeast Asia’s first insured Bitcoin fund, BGBF-I, is powered by BCMG Ltd., a Malaysia-based advisory firm that leverages on the latest technology to improve businesses with innovative, digital ideas.
Southeast Asia’s first insured Bitcoin fund, BGBF-I, is powered by BCMG Ltd., a Malaysia-based advisory firm that leverages on the latest technology to improve businesses with innovative, digital ideas.

By Charlotte Chong

KUALA LUMPUR, NNA - Southeast Asia’s first insured Bitcoin fund was officially launched on March 8 to address the growing global interest from institutional and corporate investors as well as the need for higher security.

Regulated in Malaysia's federal territory of Labuan, the BCMG Genesis Bitcoin Fund-I (BGBF-I), offers insurance coverage and underwriting for public offering security insurance (POSI) and other security features for clients.

Powered by BCMG Ltd., a Malaysia-based advisory firm that leverages on the latest technology to improve businesses, the fund aims to invest in market makers, liquidity providers for Bitcoin and other BTC investment opportunities.

The fund is administered by regulatory compliance and professional services provider Alpha Calibration and audited by Hong Kong-based auditing firm HLB Hodgson.

Supporting the fund is an ecosystem of stakeholders and collaborators with a strong Asian presence. Labuan-based IBH Investment Bank serves as its main fund advisor.

In a press statement, BGBF-I's fund manager Subbu Vempati said, “BGBF-I is a secure, insured and regulated platform where investors can get exposure to the digital assets industry. Investors get to benefit from our expertise in the financial, technical and security aspects of Bitcoin investments, as well as enter this class with a peace of mind without any challenges or risk in directly handling the Digital Asset.”

On providing wealth management in niche markets such as blockchain, IBH Investment Bank managing director and CEO Howard Choo said, "Our strategic partnership with BGBF-I will focus on corporate and financial advisory as well as support our mission to gain a competitive advantage and positioning in Asian Investment banking operations."

The fund leverages an Artificial Intelligence (AI) powered blockchain-based platform provided by the world’s first fully insured crypto exchange Calfin Global Crypto Exchange or CGCX.io.

The exchange has a highly complex and unique infrastructure that protects assets against cyber-attacks and hacks, according to the statement. In addition, all investment subscription contracts will be held in custody with regulated banks. All investors must go through mandatory anti-money laundering and background screenings.

Bitcoin has quickly emerged as a new asset class in recent years. Helped by a diminishing supply, the intrinsic value of the asset has grown significantly in recent years.

The cryptocurrency has also become the most sought-after investment opportunity today and is undergoing a parabolic growth phase fueled by interest from big American corporations, which leveraged the digital asset as part of their asset and treasury management.

It is for this reason the BGBF-I was set up to provide access to Asian accredited investors and large corporates, according to the press statement.