Malta’s first tokenised fund share class
Lake Geneva Investment Management (LGIM) is a FINMA‑regulated Geneva‑based asset manager founded in 2007, managing approximately USD 1.7bn across UCITS and Cayman fund structures. A long‑standing Apex client, LGIM operates a physical gold strategy fully backed by allocated gold bars held at UBS Zurich, segregated by serial number and off the custodian’s balance sheet.
Objective
Our objective was to modernise fund distribution and settlement by tokenising a Cayman fund share class for a new segment of professional investors. We aimed to deliver the benefits of on‑chain ownership and faster settlement while preserving the existing fund structure, regulatory framework, and physical gold custody model.
The challenge
The client needed to tokenise a Cayman fund share class without disrupting the existing fund structure, while enforcing professional investor eligibility and AML/KYC requirements at scale.
At the same time, on‑chain ownership had to remain fully aligned with the official shareholder register and underlying gold custody model.
The solution
We delivered a regulated tokenised share class using Apex Digital 3.0 covering tokenisation technology, fund administration, and registrar model.
Compliance was embedded at wallet level, with automated subscriptions, redemptions, and controlled minting and burning managed by us as registrar.
The result
We launched a fully live, production‑ready tokenised share class that accelerates settlement, improves transparency, and modernises distribution for professional investors.
The solution preserves Cayman fund terms, maintains UBS gold custody alignment, and delivers a compliant, scalable digital investor experience.