JPMorgan Private Bank has made investments in two Swiss fintech businesses. These companies specialize in the development of software that assists financial advisors in customizing portfolios for rich customers in Europe, the Middle East, Latin America, and Asia.
Edge Laboratories SA and Evooq SA (Evooq) were previously partners, and the company described its investment in them as “strategic,” although it did not disclose the terms of the transaction.
Cedric Ullmo, Chief Executive Officer of Edgelab and Evooq, as well as the company’s founder, said in a statement that the firms had gained cash as they entered a crucial stage of their development as a result of this investment. This funding will allow the companies to enhance the resources that are necessary to provide key portfolio items and projects.
In related developments, according to a recent research by JPMorgan, crypto market regulation actions that have already been initiated are expected to be intensified in the aftermath of the collapse of crypto exchange FTX and sister business Alameda Research.
The bank observes that when the Terra network failed in May, there has been a greater interest in U.S. regulatory activities due to the perceived need for enhanced monitoring and consumer safeguards. This requirement came about as a result of the collapse of the Terra network.
According to JPMorgan, trading in cryptocurrency futures would very certainly move to regulated venues, and as a result, the Chicago Mercantile Exchange (CME) will almost certainly gain from this transformation.
The U.S. bank has said that it is expected that regulatory measures will arise with a focus on the custody and protection of consumers’ digital assets; the unbundling of broker, trading, lending, clearing, and custody operations; and transparency and the reporting of reserves, assets, and liabilities.
