INDIANAPOLIS, IN - Sarson Funds, a boutique manager in blockchain and trusted advisor to professional investors, web3 founders, and top 100 crypto projects, announced new service providers in the firm's recently launched stablecoin issuance business line.
For Sarson Funds' recently announced Casper Stablecoin (csprUSD), Custodia Bank has been named as the banking service provider and BlockPass has been added as the compliance service provider.
According to CEO John Sarson, “Stablecoins are a must-have for any successful layer-1 protocol. Stablecoins are a natural evolution of our product line and give us an opportunity to showcase our no-bars-held approach to bringing regulatory approved structures to the crypto market.”
Stablecoin legislation has gained momentum in the U.S. as both political parties view stablecoin regulation as a necessary first step in reigning in the disorderly crypto market. CEO John Sarson expressed the importance of establishing robust standards for stablecoin issuers, emphasizing the need for asset segregation, compliance, proof-of-reserves, and KYC requirements. “When Stablecoin legislation passes, we are going to quickly discover which stablecoins are not going to be allowed on US exchanges,” says Sarson, suggesting that many existing stablecoins do not qualify.
Equity sale proceeds will support the immediate development and launch of additional US-focused stablecoins on various layer-1 blockchains and will be used to expand the Stablecoin Consortium Association, a Swiss advocacy group for the responsible development of stablecoins helmed by Sarson Funds. By raising directly into the stablecoin business initiative Sarson Funds aims to provide investors with a targeted bet on the growth of regulated stablecoins.
Founded in 2017 and located in Indianapolis, Indiana, Sarson Funds, Inc. manages capital for accredited investors and provides institutional crypto market and web3 services. With Wall Street roots, Sarson Funds, Inc. has a reputation for regulatory compliance and investment excellence. Designed as an advisor to the advisor, Sarson Funds has focused on empowering Financial Professionals through education on cryptocurrency and blockchain, a mission which was recently handed off to the Boston-based American Crypto Academy in a January 2023 spinoff.
