Avantgarde Finance Group and Agio Digital have joined forces to launch an institutional-grade on-chain platform. This platform will enable users to create fully regulated on-chain funds, according to a press release. Avantgarde provides asset management services on a decentralized finance system, while Agio Fund Services, a subsidiary of Agio Digital, provides fund setup, licensing, and investor transaction management.
Avantgarde and Agio have worked hand-in-hand over the last year to bridge the gap between institutions and blockchain-based asset management technology by wrapping DeFi vaults running on Enzyme into a fully compliant fund structure, the press release stated. Enzyme is a non-custodial solution that automates operational and compliance and risk management functions for crypto on-chain.
Mona El Isa, founder and chief executive officer of Avantgarde, commented, Asset management suffers from extremely high barriers to entry today, and this partnership changes that, whilst it also opens the door to institutions more familiar with traditional hedge-fund structures to access decentralized finance compliantly, and in a way they are already used to.
The press release also noted that the launch of the platform will reduce operational costs for clients by more than 80%.