Back

Smart Valor Given Regulatory Approval To Enter Swiss Market

According to Reuters, the blockchain startup, Smart Valor, geared towards reinventing the notion of private banking, has been approved by Swiss regulatory officials to begin operations in Switzerland. With FINMA clearance, the company can now function as a digital asset platform within Switzerland’s financial industry.


 

Smart Valor is preparing to launch their trading platform towards 2018’s end, aiming to offer digital currency services as one of the limited selection of regulated crypto firms within the Swiss market. Approval from the nation’s regulators also facilitates the ease of accessing major banks in the nation separating the platform from those previously rejected by financial entities for security purposes.

Always On the Regulator Radar

However, the FINMA will be keeping tabs on the startup’s activities indirectly with the help of an organization known as VQF. This organization is self-regulating and has also been approved by FINMA officials aimed at making sure all requirements and anti-laundering initiatives remain compliant with the platform’s activities.

Although Smart Valor’s launch was officially approved this Wednesday, neither the FINMA nor VQF offered further details on any other blockchain business requests received or processes. The firm is currently developing a platform that can offer a variety of online investments including cryptocurrencies. Those funds will undergo a process known as tokenization which creates a blockchain registered digital equivalent.

Transforming the Concept of Ownership

According to the startup’s Chief Executive Officer, Olga Feldmeier, many of these types of investments Smart Valor aims to bring to the Swiss market, has up until now been accessible only by elite institutional investors or particularly well-off individuals. She explained that their process of tokenization will allow users to transform their ownership, enhance liquidity, and broaden the spectrum of which such investments are accessible.

Plans for Expansion

Smart Valor also claimed a request for their own official banking license in order to expand the business to offer security investments. If approved, the expansion is set to take place within the first quarter of 2019. A company spokesperson noted that the platform will be expanding services to include tokens backed by assets once regulatory approval is confirmed. Such assets will include private equity or funds associated with blockchain businesses, projects enhancing the development of blockchain technology, VC, Cryptocurrency, and even real estate.



2 years ago

Start Weekly Digest

Similar news