Amsterdam-based crypto service provider, Amdax, has announced its plans to launch a bitcoin treasury company called AMBTS (Amsterdam Bitcoin Treasury Strategy). It intends to list it on the Euronext exchange in the Netherlands and unlock investment opportunities for investors.
Why is Amdax Launching a Bitcoin Treasury?
Amdax wants to fulfill its ambition of AMBTS, with a long-term goal of holding at least 1% of the total Bitcoin supply. The company highlighted that institutions, governments, and corporates now collectively hold more than 10% of Bitcoin supply, reflecting the growing acceptance.
Amid this global surge, Amdax believes that it is well placed to initiate a bitcoin treasury company in the European Union (EU) that can stand alongside global entities.
Lucas Wensing, CEO of Amdax, stated, “With now over 10% of the bitcoin supply held by corporations, governments, and institutions, we think the time is right to establish a Bitcoin treasury company with the aim to obtain a listing on Euronext Amsterdam, as one of the leading exchanges in Europe. This will provide institutional investors with new financial instruments to get exposure to the performance of bitcoin.”
How will the AMBTS Operate?
According to the Amdax statement, AMBTS will operate independently while benefiting from Amdax’s regulatory experience and infrastructure. The company has been operating a fully licensed digital asset practice for over 5 years. It operates with a robust regulatory and risk management framework.
Amdax is planning to raise capital through private investments to start accumulating BTC, eventually scaling up through public markets. If successful, AMBTS would become one of the first publicly listed Bitcoin treasury companies in Europe.
Risk Management in Amdax
Amdax operates under a rigorous compliance and risk control environment, with ongoing independent oversight. In 2020, the company became the first crypto service provider in the Netherlands to register with the Dutch Central Bank (DNB). Since then, it has taken significant steps in governance, risk control, and independent oversight, including completion of ISAE 3000 type II audits.
This highly regulated and audited framework likely boosted Amdax’s ability to manage a Bitcoin treasury with compliance and custodial risk management.
