Restructuring Pinta and BLX
An Update on ICONOMI’s Relationship with Columbus Capital
Today, we are announcing the next step in our efforts to further position ICONOMI for long-term success. We have decided to end our ties with Columbus Capital and reposition BLX to follow a passive structure, while underlying Pinta assets are moved to ICONOMI’s balance sheet.
Columbus Capital was introduced to the ICONOMI platform as one of the first DAA managers. We viewed them not only as the best starting point for exploring the possibilities the new tokenized world offers, but also as the best way to delegate responsibility so our focus could remain on building the best digital asset management platform. Over the past two years, we have watched the regulatory framework change very slowly, and it will still take quite some time for authorities to acknowledge all the benefits the tokenized world offers. To pursue these benefits, we have reached an agreement to facilitate the restructuring of Pinta and BLX.
As we move through this process, here are the key things you need to know.
We are moving all Pinta’s asset to our treasury department. This makes ICONOMI more flexible for taking advantage of potential opportunities, since assets will not be used only for investments but also for supporting the growth of our business. You will be able to follow asset allocation through our quarterly financial reports.
Currently, most of the DAAs on the platform follow a more active strategy. Moving forward, we want to explore new opportunities DAAs can offer and ways to add value to existing digital portfolios. Flexible management of DAAs will provide more options for a range of active to more passive strategies.
The recent launch of Delta Summit Index (DSI), one of the world’s first crowdsourced digital asset indexes, is one example of how we are innovating in the field of DAAs. Now available for purchase on the ICONOMI platform, DSI is rebalanced on the first day of each month, making it a passively structured index. We will apply the same approach to BLX, which has a more or less fixed structure and will serve as a blueprint for all future DAAs that follow a more passive strategy. These index-based DAAs will have no need for a manager, since the rules governing their structure and rebalancing will be well-defined. We may, however, ask asset managers for their input if we believe the rules should be redefined or updated.
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