Luxembourg's 6M becomes one of first independent AIFMs to offer crypto assets in EU

6 Monks (6M) has been granted authorisation by the Luxembourg Financial Regulator, the Commission de Surveillance du Secteur Financier (CSSF), to provide Alternative Investment Fund Management (AIFM) services to third-party funds investing in Web3 and crypto assets.

The independent Luxembourg-based AIFM is the first independent AIFM authorised by the Luxembourg Regulator to provide these services and one of the first AIFMs authorised for crypto-assets in the EU.

In a statement today (9 April), it said; "This significant milestone means that 6M will become the first independent Luxembourgish AIFM to offer services dedicated to third-party funds seeking to implement investment strategies in Web3 and crypto-assets through regulated investment vehicles benefiting from the European passport."

Julien Wolff (pictured), head of risk management at 6M said: “6 Monks is committed to play a pioneering role in the development of the crypto-asset class by bridging the gap between traditional financial actors and native players in the emerging Web3 ecosystem.

"We are leveraging the multidisciplinary experience of our teams in both crypto assets and traditional regulated investment vehicles to provide the necessary, and stringent, governance and internal control framework to safeguard crypto asset-based AIFs and their investors.”

Wolff continued: "We are deeply convinced of the potential of crypto-assets as a new asset class. Private equity and fund promotors launching crypto funds through regulated investment vehicles will need access to the key players they require (e.g. AIFM, custodian, VASP, brokers, etc.) and 6M is committed to playing a central role in providing this investment infrastructure.”

6 Monks (6M) is the first Luxembourg AIFM authorised to offer management services to third-party funds that invest on crypto-assets or Web3-based private equity projects. The scope of the services provided by 6M, which can incorporate portfolio management and central administration of AIF (Alternative Investment Fund), helps to meet the specific needs of the market and establish trust with its customers.