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Issuance.Swiss AG launches Cardano staking ETP: CASL

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The Switzerland-based protocol Liqwid Finance, in partnership with the issuer Issuance.Swiss AG, is launching CASL, a digital asset ETP.

 The firm writes that CASL not only captures the performance of the underlying ADA, managed by the Cardano Foundation, but also the interest earned by staking the token. 

Distributed as an ETP, the product is listed on the Zurich stock exchange, the SIX Swiss Exchange.

For Florian Volery, co-founder of Liqwid Finance, “CASL offers all the advantages of traditional and decentralized finance. It’s a low-cost, liquid, institutional-quality product”. 

Volery says that he has designed this ETP which, not only follows the developments of the ADA token, a crypto asset launched in 2017 by Cardano, but reaps the returns of staking this token on Cardano’s blockchain, the most decentralised to date. 

“With CASL, we want to take a new step,” Volery says. “One that will bridge the gap between traditional and digital asset management. Until now, most of the financial instruments available to investors in the crypto universe gave them access to developments in the underlying assets (bitcoin, Ethereum, ADA, etc.). We’re going one step further, by putting ADA’s outstanding assets to work and redistributing the interest to investors.”

He adds that investors benefit from a double return on their investment, as well as lower management fees (1.5 per cent) than the average of competing products.

In addition to its above-industry-average return prospects, the CASL ETP has a particularly controlled risk profile, the firm says. It is 100 per cent backed by physical crypto asset: ADA tokens, that are real assets, held in a “cold” (offline) wallet. 

The staking of the ETP’s ADA tokens is carried out by Liqwid on the Cardano network, the only one not to have suffered an outage over the last five years, compared with its biggest competitors who also have a proof-of-stake consensus (Solana, Ethereum, Avalanche). 

“CASL makes it simple for investors, without the need for a crypto-currency portfolio or specific knowledge, to earn money while contributing to the decentralisation of finance,” says Bruce Jackson, Head of Digital Assets at Apex Group. This decentralisation is the key to the future of an inclusive world, in which millions of people who don’t have access to banking infrastructures can participate.”

The CASL ETP offers instant liquidity without any constraints, the firm writes, as Cardano’s blockchain does not foresee any lock-in period for the assets at stake. The entire value chain involves Swiss players, a further guarantee of security, the firm says.

The launch price is set at USD25 and is available in two additional currencies (CHF and EUR) which represents a real exposure in ADA of around 39 (price of 1 ADA for ~USD0.64 | 12.03.2024).

ETF Express interviewed Jackson on the launch of Issuance.Swiss AG.

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