Digital asset firm Fineqia AG has teamed up with crypto custodian Copper to offer custody solutions for its exchange-traded note (ETN) business. This collaboration is intended to enhance the reliability and transparency of its products.
Here are some of the latest developments from the world of crypto over the past few days
Digital asset firm Fineqia AG has teamed up with crypto custodian Copper to offer custody solutions for its exchange-traded note (ETN) business. This collaboration is intended to enhance the reliability and transparency of its products.
According to the new agreement, Copper will secure the underlying assets in Fineqia’s ETNs, including the Fineqia FTSE Cardano Enhanced Yield ETN, which provides direct exposure to Cardano.
The Cardano ETN started trading on the Vienna Stock Exchange about 10 months after Fineqia AG received initial approval.
The company’s prospectus permits its ETNs to hold other cryptocurrencies, such as Bitcoin, Ether, Avalanche, and Tron.
Copper, a London-based custodian supported by British multinational bank Barclays, highlights the increasing significance of custodial services for asset managers aiming to attract institutional capital to the crypto sector. Through this partnership, Fineqia aims to safeguard customer assets “from theft, loss, or unauthorised access,” the company said.
US Representatives French Hill and Bryan Steil have introduced a discussion draft for legislation that would create a regulatory framework for dollar-pegged payment Stablecoins in the United States.
The proposed law would enforce a two-year ban on issuing an “endogenously collateralised Stablecoin,” which means issuers would be barred from creating Stablecoins backed by self-issued digital assets. Additionally, it would mandate the US Treasury Department to conduct a study on Stablecoins, reports Cointelegraph.
In a news release, House Financial Services Committee Chairman Hill stated that the discussion draft aims to clarify payment Stablecoin regulations and provide a federal pathway for issuers. He mentioned that they would collaborate with the Trump administration, the House, and the Senate to “get this right” and “deliver a dollar-backed Stablecoin for the American people.”
The introduction of the draft Bill comes after the Trump administration confirmed its intention to regulate and bring Stablecoins onshore. President Donald Trump’s Crypto Czar David Sacks remarked that Stablecoins could “extend the dollar's dominance internationally.”
Missouri Representative Ben Keathley has put forward House Bill 1217, suggesting the establishment of a Bitcoin Strategic Reserve Fund to broaden the state’s investment portfolio.
On February 6, 2025, Keathley submitted HB 1217, recommending that Missouri diversify its investments by incorporating Bitcoin as a safeguard against inflation of fiat currencies. Should the Bill become law, it will permit the Missouri Treasurer to receive, invest in, and hold Bitcoin under specific conditions