Built for institutional capital. Vaults now live: MiCA-authorized discretionary portfolio management from Tesseract Investment Oy.
Helsinki
Joined November 2023
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That’s a wrap on Singapore. Great to catch up with familiar faces and meet new ones.
The theme of the week: institutions waking up to DeFi. A year ago they asked “is this allowed?” Now it’s “show me my positions” and “show me how I deploy and redeem.”
@adamhaeems explained it on Friday’s @Vault__Summit panel: The institutions arriving now want transparency over their positions and control over how they deploy and redeem.
DAS week has started on the courts, and Adam has caught the padel bug
Thanks @FunFairVentures, @utila_io and @bravaxyz for having us, and @HouseofRacquet for the courts.
#DASLondon
We’re in London all this week for DAS. Who from our network is going to be there?
If you’re around and looking for yield from a regulated, established firm, we’d love to chat.
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On the Binance security incident: we have been monitoring since the first reports. Our vault business has no accounts with Binance, and no Binance entity is a counterparty in our lending book. No Tesseract vault supplies the assets involved on Aave. We have spoken with each of our lending counterparties and none has reported material exposure. We have updated our clients directly and will update if anything changes.
We're in Singapore all this week for TOKEN2049. @adamhaeems, our Head of Asset Management, and the team are in town for meetings.
Where to find us:
* Wed 7 Oct: around Marina Bay Sands
* Thu 8 Oct: Stablecoin Summit, Andaz Hotel
* Fri 9 Oct: @Vault__Summit, Andaz Hotel (Adam speaks on the 09:35 SGT panel)
We're offering strong rates, with up to 14% on stablecoins, backed by a trusted counterparty. Reach out If you're looking to put your own or your clients' assets to work
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Marketing communication. Indicative gross target APY, before fees; not guaranteed. Capital at risk. Past performance is not indicative of future results. Not covered by investor compensation or deposit guarantee schemes.
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Reach out to arrange a meeting, or send us a DM
tesseract.fi/contact/
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We'll be in Singapore during TOKEN2049 week.
Head of Asset Management, @adamhaeems speaks at Vault Summit on Friday 9 October, on the panel From First Allocation to Institutional Scale.
If you're in town and want to talk, get in touch.
What justifies onchain exposure when comparable options exist offchain? What criteria do institutions apply before committing size? What constrains allocation once a strategy has cleared internal approval?
These are some of the questions this panel examines.
On stage:
@0x_JMan, @Bitwise
Giselle Lai, Fidelity International
Adam Haeems, @tesseractcrypto
Vault Summit Singapore. 9 October · sg2026.vaultsummit.xyz
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Bitcoin has climbed back toward levels last seen in May, but options positioning still shows demand for protection.
~$1.4bn of September BTC puts sit between $68k and $75k, while calls are heavy between $82k and $100k.
@adamhaeems describes it as a “hedged long.”
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Marketing communication. Capital at risk. Not investment advice.
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Nothing gets deployed without clearing two layers of approval.
First, the protocol whitelist: maturity, TVL, audit profile and security history.
Only then does research assess strategies within those approved protocols, with each strategy going through a five step approval process before deployment.
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@adamhaeems, Head of Asset Management at Tesseract Investment Oy.
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Not all vaults are the same.
One word, pooled structures and single-client mandates, very different regulatory setups. @jemharris11 at @Vault__Summit NYC on labeling vaults by their regulatory appropriateness and their legal substance.
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13–15% gross target APY on cbETH
Allocate your cbETH into its own dedicated vault on @base
Assets are segregated at the vault level, and the strategy is managed by Tesseract Investment Oy under our MiCA authorization.
Allocate now or speak to the team
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Marketing communication. Indicative gross target APY; not guaranteed. Capital at risk. Past performance is not indicative of future results. Not covered by investor compensation or deposit guarantee schemes.
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Put idle cbETH to work, or earn higher returns on an existing allocation, with our new @base vault opening 24th August.
An optimized looping strategy targeting 13–15%, run in your own dedicated vault by a MiCA-authorized CASP.
Onboarding is open now, so you can allocate from day one.
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Indicative gross target APY, before fees. Capital at risk. Not available to residents of the US or UK.
Almost $9B sits in 800+ curated vaults. SEC Commissioner @HesterPeirce Peirce says some may fall under federal securities laws.
@Yogita_Khatri5 asked where the line sits. We were pleased to contribute to her @TheBlock__ feature, alongside @Morpho , @gauntlet_xyz , @Bitwise, @CIG_Crypto & @dragonflyvc .
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@jemharris11 set out Tesseract's position: Europe has already drawn the line. Under MiCA, discretionary portfolio management of crypto-assets is a regulated service.
“This is asset management, it is a regulated activity.”
Read the full feature:
theblock.co/post/409690/are-…
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"𝑰𝒕'𝒔 𝒐𝒏𝒄𝒉𝒂𝒊𝒏, 𝒔𝒐 𝒕𝒉𝒆 𝒓𝒖𝒍𝒆𝒔 𝒅𝒐𝒏'𝒕 𝒂𝒑𝒑𝒍𝒚."
A convenient way to sidestep the rulebook. Last week SEC Commissioner @HesterPeirce took direct aim at it.
We agree with her.
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A vault is not one thing.
At one end, fixed rules run by immutable code. At the other, a person choosing the strategies, moving the capital, setting the risk.
The more discretion the curator exercises, the more the vault looks like portfolio management.
Portfolio management is a regulated activity, onchain or off. The rules follow the discretion.
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We’re hiring a DeFi Analyst to join our Asset Management team.
This is an early career role for someone who lives and breathes DeFi. You’ll research, deploy and monitor strategies with your work feeding directly into allocation decisions and live positions.
Remote within European time zones. Full time.
View the full role and apply 👇
MiCA authorization gives regulated firms a common language for working together.
For that ecosystem to grow, more firms need to choose authorization over the offshore path, and the rules need to be meaningfully enforced.
Our CEO, @jemharris11 explains why 210 authorized CASPs is not yet enough to create the regulated market Europe is aiming for. Watch the full panel 👇️
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Crypto asset activities involve significant risk. Capital at risk. Not investment advice.
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MiCA’s grandfathering period has ended. The regulatory line is now clear for firms serving EU clients.
That is why Tesseract Investment Oy pursued MiCA authorization early.
Our aim was to give institutions, exchanges, custodians and wallet providers a regulated route to yield, with a counterparty they can trust.
Henri Littunen, our COO and Head of Risk, explains why becoming authorized was central to that approach, and why assurance and accountability matter so much in the market taking shape now.
[Translated from Finnish]
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Crypto asset investments involve significant risk and may result in loss of capital. For informational purposes only. Not investment advice.
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Thanks for sharing and congratulations to all the other Nordic CASPs !
Today, we celebrate the 33 CASPs who obtained their MiCA licence across the Nordics & Baltics - and look ahead to the work that comes next 🌟
🇩🇰 Denmark: @Penning_dk, @januar, @lunarmoney, @GCEX_Official, @Northstake_dk, @coinify
🇸🇪 Sweden: @SafelloAB
🇳🇴 Norway: @nbxcom, @firiapp, @K33HQ, @AKJCrypto, @tyrmarketsno, @barebitcoin
🇫🇮 Finland: @Coinmotion, @KvarnX, @northcryptocom, @tesseractcrypto, @Bittimaatti
🇪🇪 Estonia: @go_lightyear, LHV, @lightspark
🇱🇻 Latvia: @BlockBen, Nexdesk, @paybis, @neverlessapp, @Backpack, @TWINO_eu
🇱🇹 Lithuania: @RobinhoodApp, @CoinGatecom, @Nuvei, Micar Assets, @Newrails_xyz, Blue EMI
Congratulations to all teams on this important achievement!
However, a MiCA licence is just the first milestone - not the finish line.
The attention now shifts to implementation, supervisory convergence, and ensuring that MiCA works in practice for the licensed organization, EU consumers, and the broader European digital asset ecosystem.
At Nordic Blockchain Association, our work continues to help make MiCA work in practice:
🔹 Led by our Legal Steering Committee, we will submit a joint response to the European Commission's MiCA consultation on behalf of the Nordic and Baltic crypto industry.
🔹 We are also engaging closely with national financial supervisors across the region and convening closed-door roundtables between our members and local regulators to encourage open dialogue, share implementation experiences, and support a consistent and pragmatic approach to MiCA supervision.
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Tomorrow, MiCA becomes fully applicable across the EU.
Of ~2,700 firms registered under the old VASP regime, ~210 are now MiCA-authorized CASPs. Tesseract Investment Oy is one of them.
Our CEO @jemharris11 on the BeInCrypto MiCA panel: what that number really means, and what comes next.
MiCA just cleared out 90% of Europe's crypto firms. The 10% left standing are the ones writing the next rulebook.
With a 20-person shop now facing the same compliance burden as a 3,000-person exchange, only 210 out of 2,700 firms survived the July 1 deadline.
Huge thanks to @jemharris11, Group CEO of @tesseractcrypto, @VyaraSavova, Senior Policy Lead at @EuEthInstitute, and Ryan Miller, Head of APAC at @Wincent_co for joining us to reveal what it actually takes to survive.
WATCH THE FULL PODCAST: youtube.com/watch?v=jOzU3fuF…
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