Digital asset and investment company Fineqia International Inc (CSE:FNQ, OTC:FNQQF) said on Tuesday that its subsidiary Fineqia AG has appointed Germany’s Quirin Privatbank AG as the paying agent for its exchange-traded notes (ETNs) business.
The agreement formalizes Quirin Bank’s role in overseeing the distribution of dividends and other investor payments tied to Fineqia AG’s ETNs, which are backed by digital assets.
The bank’s services began on January 24, coinciding with the launch of the Fineqia FTSE Cardano Enhanced Yield ETN, which it helped support.
Terms of the agreement with Quirin Bank were not disclosed.
"We're pleased to work with Quirin bank, whose expertise in managing financial market transactions and investor operations complements our efforts to deliver reliable ETN products," said Warren Sergeant, CFO of Fineqia International. "As our paying agent, their role ensures secure and timely payments for our investors while expanding their reach in the growing digital asset market."
ETNs are unsecured debt securities that track the performance of underlying assets and are part of the broader exchange-traded product (ETP) market, which includes exchange-traded funds (ETFs).
The Cardano-based ETN debuted on the Vienna Stock Exchange in January and has amassed C$45 million in assets under management. It was later listed on the Stuttgart Stock Exchange.