In the press
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Veteran wealth management executive joins as strategic advisor
VANCOUVER, BC, Nov. 2, 2023 /CNW/ - Volatility Labs Inc. ("Fig Investments"), a Canadian fintech company, is thrilled to announce that David Schaffner, CFA, has signed on as a Strategic Advisor. Schaffner is poised to provide invaluable guidance with his wealth of knowledge and distinguished career in asset and wealth management as the startup embarks on its next phase of growth in democratizing the structured products market. "I've always been bothered by the typical structured notes offered by banks. Most investors who are sold a structured note don't know what it is and how it works. Through Fig's software platform, investors will not only gain more transparency to this product and its fees, they will also learn the mechanism of how it works. This platform is a good thing for the financial industry. It's a good thing for consumers," Schaffner remarks about his decision to advise Fig.
Partnership to develop on-chain derivative settlement protocol
SAN FRANCISO, USA, October 31, 2023 /EINPresswire.com/ -- Fig Investments, a regulated Bitcoin and Ether structured notes platform based in Canada, and Uniblock, the first unified API for Web3, are excited to announce a partnership to develop an on-chain derivatives settlement protocol. Today, the majority of derivatives trading and settlement occurs bilaterally among trading firms, investment banks, and over the counter (OTC). These firms either speculate or hedge their positions through heterogeneous contracts with bilateral counterparties. Despite its importance, the infrastructure for derivatives trading is outdated, being slow and largely manual. Blockchain technology can significantly enhance transparency, reduce costs, and foster trust in this trillion-dollar system. By moving derivative trading and settlement on-chain, counterparties can track collateral movements in real time, allowing for immediate settlement without overnight risk. The irreversible nature of transactions also increases trust between parties. A recent trade between JP Morgan and Barclays, where tokenized iShares Money Market funds were transferred on a private blockchain to settle a derivative contract, showcases the potential of this application.
Regulatory approval for novel crypto structured note platform
EDMONTON, AB and VANCOUVER, BC, Oct. 6, 2023 /CNW/ - Volatility Labs Inc. dba Fig Investments ("Fig" or "Fig Investments") is excited to announce that it has received exemptive relief from the Alberta Securities Commission (ASC) and British Columbia Securities Commission (BCSC) to permit distribution of its novel crypto structured investment products to accredited investors. The exemption will allow Fig to pilot its ground-breaking technology platform, which promises to disrupt the existing structured notes market by introducing a transparent, efficient, and inclusive alternative. Fig's intuitive, digital-native web platform enables instant access to structured notes with customizable risk and return parameters that provide hedged exposure to price movement in the Bitcoin (BTC) and Ether (ETH) markets. Fig's innovation seeks to bring transparency and inclusivity to the trillion-dollar structured note market, which is currently dominated by traditional investment banks.
