After XAnge, Cathay Ledger Capital is the second fund to obtain the green light from the Autorité des marchés financiers (AMF).

Things seem to be speeding up for French Web3 funds when it comes to investments in tokens. According to our information, after XAnge, it is Cathay Ledger Capital that has just obtained authorisation from the Autorité des marchés financiers (AMF) to invest in project tokens.

Until now, funds based in France, which invest exclusively in equities, could not invest in tokens because of the lack of partners to do so. Since the financial crisis of 2008, investment funds have in effect been obliged to deposit their clients' money with a third party to avoid manipulation.

It is only very recently that custodians have been given authorisation by the AMF to deal in crypto, which now allows funds such as XAnge and Cathay Ledger Capital to invest in tokens.

The interest for a fund in recovering tokens from a project is twofold: firstly, because it allows it to benefit from the potential financial performance of a project's token. Secondly, because holding tokens in certain projects allows a fund to participate in its governance.

This analysis does not constitute investment advice. It has been written without taking into account your personal circumstances, including your financial situation, risk profile and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial and accounting advisors.