10 May 2023
Carey Olsen and JTC Group assist Valour with new physically digital asset-backed offering
Carey Olsen, together with JTC Group, have assisted digital asset manager Valour Inc.'s (Valour) new digital asset Exchange Traded Products (ETPs) programme in Jersey, which will be offered to investors across the European Union.
The ETPs programme will provide investors with access to a wide variety of cryptocurrencies and other digital assets (including indices and crypto 'baskets') via a regulated stock exchange. Issued by Valour Digital Securities Limited, the ETPs will initially be listed on the German trading platform Deutsche Borse Xetra, with further listings anticipated on major European stock exchanges.
The Carey Olsen team advising Valour's Switzerland-based asset management team on the Jersey legal and regulatory aspects of the structuring and implementation process of the ETPs was led by corporate partner Chris Griffin, assisted by senior associate Sophie Hancock and associate Tshogofatso Dhlamini.
Chris said: "We enjoyed assisting Valour launch their ETPs programme from Jersey and were pleased to see another cross-jurisdictional promoter choosing Jersey as a jurisdiction in the digital assets space."
JTC Group, through JTC Fund Solutions (Jersey) Limited, has been appointed to provide ongoing determination agency, administration and company secretarial services to Valour. Alan Baird, Head of Fund Services - Jersey, at JTC said: "We are delighted to support Valour’s ETP launch and work closely with Carey Olsen to further demonstrate Jersey’s attractiveness for digital assets. We now have considerable experience and expertise with digital asset structures and look forward to supporting more development and launches."
“The launch of the digital asset backed issuance program is a milestone in Valour’s product strategy,” said Olivier Roussy Newton, CEO of Valour Inc. “It perfectly adds to Valour’s mission to offer investors a maximum level of security and facilitates access to the digital assets space."