Super Global enables institutional clients to use digital assets as part of their cash management. “The importance of alternative sources of return in the institutional environment is growing”, says Daniel Knoblach, Board Member of Super Global Services SA. “In light of changing interest rate environments and rising requirements for diversification and liquidity management, digital assets offer an additional solution that has now become easy to access and use.” Super Global’s Actively Managed Certificates (AMCs) provide a straightforward route to accessing and deploying these assets.
AMCs with access to digital assets therefore complement existing cash management approaches without adding further complexity. Digital assets have developed into more than a standalone return component. “Stablecoin-based strategies, staking mechanisms, for example in the Ethereum ecosystem, and selected DeFi applications in particular generate recurring returns”, Knoblach points out. “These differ from traditional money market instruments and therefore provide meaningful diversification.” For a long time, such sources of return were associated with operational complexity and technical requirements.
“AMCs address this hurdle through a standardised, institutional structure”, says Knoblach. “They enable access to digital sources of return within a regulated framework and via established capital markets infrastructure.” Investment is made through securities with an ISIN. Settlement and custody are handled via established systems such as Clearstream and custodian banks. “There is no need to deal directly with wallets or tokens”, Knoblach highlights. “This makes integration into existing processes much easier.”
In cash management, AMCs open up additional options. “They are not a substitute for traditional money market allocations, but complement them”, says Knoblach. “The aim is to broaden the return spectrum while maintaining existing governance and control structures.” This allows institutional investors to incorporate digital assets into their liquidity management without having to adjust operational processes.
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The underlying strategies are implemented within clearly defined investment guidelines. The focus is on using stable sources of return from the digital assets ecosystem. These include, in particular, stablecoin yields and staking returns. In addition, selected DeFi strategies are used, chosen with due consideration of liquidity, counterparty risk and market structure. “The AMC structure is based on self-contained compartments”, Knoblach explains. “These ensure the separation of assets and risks at product level.” Valuation is carried out independently and in accordance with defined procedures. Liquidity mechanisms govern subscriptions and redemptions and are tailored to the requirements of institutional investors.
A central element is the institutional custody of the assets. This is provided through MiCA-compliant custody solutions that meet all security requirements and regulatory standards. EU regulation in this area has now reached a very high standard, meaning that no major further changes are currently expected. Risk management also follows a structured approach. “In addition to asset segmentation, all strategies are monitored on an ongoing basis”, Knoblach continues. “This ensures transparency, traceability and control.” The combination of structure, custody and monitoring creates a reliable foundation for the use of digital assets in institutional cash management.
“Super Global’s AMCs act as a bridge in this context”, says Knoblach. “They connect the traditional financial system with digital markets and enable access through familiar interfaces.” The integration of digital sources of return is a logical step in the continued development of institutional liquidity management. “AMCs provide a practical structure for this and expand the available toolkit by adding a clearly defined return component”, Knoblach concludes.
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