Crypto asset manager Tesseract Investment Oy has launched a new vault platform called Tesseract Dedicated Client Vaults, specifically designed for institutional and professional investors under Europe's Markets in Crypto-Assets (MiCA) regulatory framework. The Helsinki-based firm, which secured a full MiCA license from Finland's Financial Supervisory Authority in 2025, is positioning this as a compliant alternative to existing pooled DeFi vault structures.
The core innovation is a model where each vault is an independent smart contract tied to a single investor, unlike traditional pooled vault systems. This setup allows clients to retain 100% ownership of their vault tokens while delegating investment decisions to Tesseract within predefined, on-chain mandates. CEO James Harris emphasized that this structure avoids the regulatory risk of being classified as a collective investment scheme under MiCA, a fate that could befall popular pooled products like Morpho vaults. "We see MiCA as an opportunity, not a burden," Harris stated, noting institutions demand regulation, segregation, and control alongside yield.
The platform, built using IPOR Labs' Fusion Plasma Vault architecture and the ERC-4626 standard, enforces client-defined rules on approved protocols and risk parameters. Tesseract acts as a curator with permission to execute trades but without broader control over the segregated funds. The launch includes support for strategies involving wrapped bitcoin, ether, and stablecoins, with plans to charge both management and performance fees.
Tesseract has already piloted the system with six participants, including major crypto ETP issuer 21Shares. The firm, which manages over $500 million in assets, aims to serve asset managers, custodians, and platforms seeking regulatory certainty. This launch comes as traditional crypto arbitrage yields have collapsed, pushing institutions toward more complex, compliance-first products for returns.
