A press release on 15 October announced that Cayman Islands based, Epoch Partners Limited, became the first cryptocurrency correlated IPO
Late last month, the securities registration for the fund was filed on the disclosure system (EDINET) of the Japanese Financial Services Agency. Subscriptions, which are capped at roughly $900 million or 100 billion Yen, are now open.
Tokyo-based and licensed Japanese firm, Teneo Partners will work side-by-side with Epoch. Teneo CEO said, having a more diversified investment offering allows the firm to distinguish themselves from their competitors. This will also allow them to address the needs of their clientele.
According to James Skinner, an Epoch Partners associate, Japan has been leading the virtual asset space. The country was the first to have proper cryptocurrency regulations. He then considered the interest of Wall Street institutions and believes the asset class will be part of an investor’s portfolio, though minimally.
Cryptocurrencies are blossoming is Japan. Just last month, the country increased manpower to help with its regulation efforts.