Affin Bank, one of Malaysia’s largest banks with 115 branches and 6,000 employees, has partnered with Cross Light Capital to launch the country’s first actively managed crypto fund. This fund aims to provide exposure to bitcoin and ethereum ETFs and ETPs, along with crypto stocks like COIN.
Calvin Cheng Yu, Head of Wealth Management at Affin Bank Bhd, emphasized the benefits of this collaboration: “By offering access to Cross Light Capital’s digital asset fund, we enable our clients to diversify their portfolios and tap into the potential of the digital economy.”
The Cross Light Capital Performa Digital Asset Fund will be distributed through Affin Invikta, an exclusive suite of banking solutions for premier customers. Although limited to sophisticated investors, the fund requires a minimum investment of just $1,000 for crypto exposure.
Notably, Affin Bank is an Islamic bank. While bitcoin has been deemed sharia-compliant in many regions, the debate continues in some areas, such as Russia’s Tatarstan, where a crypto strategy is being planned.
Affin Bank’s move could further the acceptance of crypto in Malaysia, one of the world’s fastest-growing countries with a GDP surpassing $400 billion and an annual growth rate of approximately 5%.