# Introduction

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## TL:DR;

Fume automates fund administration by turning every subscription, redemption, and fee workflow into programmable onchain transactions.

## Why are you building this company?

We have a simple thesis: ***Stablecoins Move Money Better.***

The stablecoin payment rail, compared to traditional banking, is faster, cheaper, 24/7, transparent, global, without intermediaries, and, most importantly, ***it is programmable***.

The adoption of stablecoins by all asset managers is therefore inevitable.

We built a tool to solve our own issues as fund managers operating with stablecoins. We programmed into smart contracts the fund administration function to reduce friction in our operations.

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## About Fume

Founded in 2023 and based in Ticino, Switzerland, [Fume](https://www.linkedin.com/company/fumefinance/) provides an onchain fund management platform that aims to address the inefficiencies plaguing traditional fund management. Many intermediaries and a lot of manual reporting. Fume automates the administration through smart contracts. It streamlines the subscriptions/redemptions with tokenized fund shares and automates the manager's payout (management, performance, entry, and exit fees). Onchain funds are fully compliant with regulations in top-notch jurisdictions. It's not limited to digital assets: fiat subscriptions are still possible with any off-chain underlying asset.

Fume operates under two main lines of business:

* Software-as-a-Service (SaaS) model, providing access to its platform for a commission on the funds' AUM. The asset managers rely on their own fund license.
* Fund-as-a-Service model, providing a full fund formation, AML/KYC, reporting to the financial regulator, and other admin functions on top of the platform.

## Company Overview

* **Name**: Fume, legally incorporated as FumeX AG (CHE-342.025.757).
* **Incorporation Date**: 15/05/2023.
* **Location**: legal address in Ticino, Switzerland, operating with a remote-first approach.
* **Sectors**: Fintech, Blockchain, Asset Management, DeFi, Web3.