With over 100 million people forcibly displaced worldwide, the humanitarian system faces unprecedented challenges in funding essential services. In response, an innovative financial product—the Cardano Impact for UNHCR ETP (CASL)—launches on 28 May on the SIX Swiss Exchange, creating a bridge between institutional capital and humanitarian relief through blockchain.
The CASL ETP (Ticker: CASL | ISIN: CH1327686056) is the first-ever regulated exchange-traded product that converts blockchain staking rewards into continuous funding for UNHCR, the UN Refugee Agency. The product offers investors exposure to Cardano (ADA), while automatically donating 100% of staking rewards—not principal—toward field operations supporting refugees across over 135 countries, including Syria, Sudan, and Venezuela.
“This launch represents a world first in sustainable finance and humanitarian aid,” said Oliver Anselmo, Deputy Executive Director at Switzerland for UNHCR. “It transforms passive investment returns into a recurring, scalable stream of support for people who have lost everything.”
Quantifying Impact
Based on current ADA staking yields (~3.5% APY) and projections of initial fund inflows, the CASL ETP could generate $1.5 to $2 million in annual donations with $50 million in assets under management—funds that directly power UNHCR’s emergency response and innovative refugee programs.
Industry-First Technical and Regulatory Design
Structured by issuance.swiss AG and operated under Swiss regulatory approval, CASL is physically backed 1:1 by ADA, with a 1.5% management fee. It bypasses crypto-native complexities through a familiar ISIN, allowing institutions to invest using USD, EUR, or CHF—with no wallets, private keys, or blockchain knowledge required.
“CASL is an industry-first that merges full regulatory compliance, institutional-grade staking infrastructure, and humanitarian aid in one product,” said Laurent Kssis, CIO at issuance.swiss AG. “We’ve eliminated the operational barriers—from fiat on-ramps to staking—and embedded impact at the protocol layer of capital allocation.”
Powered by Trusted Partners
Custody and staking are operated by Taurus SA, a FINMA-regulated securities firm and leader in digital asset infrastructure, based in Geneva, Switzerland. ADA contributions to the underlying stake pool include 3.5 million ADA from the Cardano Foundation, alongside more than 200 delegations of holdings from the HOSKY team and their fans for a total amount of 6.3 million ADA, underscoring community trust and sustainability.
“Our infrastructure secures the ADA and operates staking pools to maximize both yield and impact,” said Lamine Brahimi, Managing Partner at Taurus SA. “We are extremely proud to extend our partnership with UNHCR for Switzerland and with Cardano, and to demonstrate how innovation can be a force for good by providing support to forcibly displaced people.”
Why Cardano? Why UNHCR?
“From funding streams to digital ID, one thing is clear: blockchain has the potential to be a great leveler, providing innovative ways of solving some of the administrative problems that make seeking refuge even harder. With the technology and use cases now at a stage where they have the capacity to substantially facilitate daily operations, the widespread adoption of humanitarian blockchain solutions must become one of the industry’s key priorities,” said Frederik Gregaard, CEO of the Cardano Foundation.
Cardano currently ranks among the top 10 cryptocurrencies by market cap (~$22 billion), with ADA priced at approximately $0.62 as of May 2025. Its proof-of-stake consensus, peer-reviewed architecture, and environmental efficiency make it uniquely suited for mission-critical applications.
The Bigger Picture
This model is already drawing attention from other humanitarian and philanthropic entities.
“We believe this model can and should be replicated,” added Pavel Izmaylov, CEO of issuance.swiss AG. “Discussions are already underway to launch additional impact-linked ETPs supporting education, climate resilience, and public health within the next 6 to 12 months.”
An early institutional investor Florian Volery, Liqwid.Finance, commented: “CASL gives us ADA exposure, recently included in US Fed Reserve digital assets and the only blockchain never experienced any technical outage, while automatically contributing to one of the most urgent causes of our time—it’s smart capital at its best.”
Product Summary
- Name: Cardano Impact for UNHCR ETP (CASL)
- Ticker: CASL | ISIN: CH1327686056
- Launch Date: May 28, 2025
- Exchange: SIX Swiss Exchange
- Management Fee: 1.5%
- Custodian & Staking Operator: Taurus SA
- Currency: USD / EUR / CHF
- Underlying: 100% physically backed Cardano (ADA)
About UNHCR
UNHCR, the UN Refugee Agency, protects and assists people forced to flee due to conflict and persecution. Operating in over 135 countries, UNHCR delivers life-saving aid and solutions to refugees and stateless people.
About Switzerland for UNHCR
Switzerland for UNHCR is the national partner of the UN Refugee Agency for Switzerland and Liechtenstein. Its mission is to support UNHCR’s mission by mobilizing essential resources and raising awareness on behalf of those who are forced to flee.
About Cardano Foundation
The Cardano Foundation advances Cardano’s global adoption and is committed to unlocking blockchain for good. It stewards the development of the Cardano protocol and ecosystem.
About issuance.swiss AG
issuance.swiss AG is a Swiss-based issuer of regulated digital asset products, pioneering accessible, transparent, and socially impactful investment structures.
About Taurus SA
Taurus SA provides regulated infrastructure for digital assets, enabling custody, tokenization, and staking services trusted by top-tier institutions.
For media inquiries:
press@issuance.swiss
media@cardanofoundation.org
UNHCR/Switzerland for UNHCR: alvaro.cosi@unrefugees.ch
press@taurusgroup.ch
Disclaimer
This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful. This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan.This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. This document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iv) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (v) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The approval of the 2024 Base Prospectus (EU) should not be understood as an endorsement by the FMA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the 2024 Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities.
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