Deals & Cases

Homburger advised Amun AG in the issuance of new Tezos (XTZ)-linked Exchange Traded Products

On November 14, 2019, Amun AG (Amun), a Zug-based special purpose issuance vehicle of the fintech group Amun, successfully listed its new series of USD-denominated crypto-linked Exchange Traded Products (ETPs) on the SIX Swiss Exchange (Ticker: AXTZ) under its updated issuance program. As of the same date, the AXTZ ETPs are dual-listed and quoted in CHF on the BX Swiss.

The underlying asset of this series is Tezos (XTZ). The underlying assets are held by or on behalf of Amun through an independent custodian and serve as a reference for the value of the ETPs. They collateralize the respective series on a 1:1 basis. The Tezos (XTZ) serving as collateral are purchased on the open market or in direct purchases from designated primary sources of liquidity, including reputable authorized exchanges.

Homburger advised Amun with respect to all aspects of Swiss law. The Homburger team was led by partner Benjamin Leisinger (Capital Markets) and comprised associate Urs Meier and paralegal Ganna Schneuwly (both Financing and Investment Products).