In Switzerland, Crypto Finance AG Obtains First Ever Cryptocurrency Asset Management License

In Switzerland, Crypto Finance AG Obtains First Ever Cryptocurrency Asset Management License
фото показано с : bitcoinist.com

2018-10-10 16:00

In what is a first for Switzerland, Crypto Fund, a subsidiary of Crypto Finance AG, recently obtained a cryptocurrency asset management from the country’s Financial Market Supervisory Authority (FINMA). The company becomes the first to be authorized to provide full spectrum services to institutional investors regarding blockchain-based assets.

FINMA Grants Crypto Fund Full Cryptocurrency Asset Management License

According to Bloomberg, the license puts Crypto Finance AG in the same bracket as other non-cryptocurrency asset management firms in the country. Commenting on the development, company CEO, Jan Brzezek, said:

The importance of crypto assets is growing, and our aim is to accelerate maturity in these markets. FINMA authorization is an important acknowledgment of the Crypto Fund and for crypto assets around the world.

FINMA initially gave Crypto Finance AG limited authorization earlier in the year to function as a cryptocurrency asset management firm. With this license upgrade, the Zug-headquartered company is now free to issue investment products that track cryptocurrencies and even provide investment advisory services to its customers.

This license upgrade will also enable the company to steal a march on its rivals as the competition in the burgeoning cryptocurrency scene in Switzerland becomes fiercer. Apart from Crypto Fund, there are many other firms in the country knocking on FINMA’s door for different licenses that would enable them to offer their services.

Cementing Switzerland’s Place in the Emerging Cryptocurrency Narrative

For cryptocurrency enthusiasts in Switzerland, this news will come as a welcome development. Recently, some stakeholders raised alarms that the country risked losing cryptocurrency-based companies if the regulatory landscape didn’t improve.

Despite difficulties in obtaining valuable banking partnerships, the Swiss canton of Zug remains a popular destinations for virtual currency companies. However, significant developments in places like Malta and Liechtenstein could see a migration of these companies away from Switzerland.

Recently, a group of former UBS bankers announced the successful fundraising for SEBA Crypto AG in its bid to become the world’s first regulated cryptocurrency bank. According to Swissinfo, the startup hopes to secure FINMA license to allow its customers to trade digital currency.

SEBA also secured vital investments from Black River Asset Management and Hong Kong-based Summer Capital. With all these recent developments, the Zug Crypto Valley initiative seems well on its way to becoming a reality. Once that happens, Switzerland automatically becomes a major global hub for all things cryptocurrency and blockchain technology.

What do you think this development will mean for the burgeoning cryptocurrency and blockchain development hub in Switzerland? Let us know your thoughts in the comments section below.

Image courtesy of Crypto Finance AG, Shutterstock.

The post In Switzerland, Crypto Finance AG Obtains First Ever Cryptocurrency Asset Management License appeared first on Bitcoinist.com.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0.0095806 (+7.58%)
Объем 24H $0
Изменеия 24h: 2.35 %, 7d: -7.78 %
Cегодня L: $0.0086651 - H: $0.0095806
Капитализация $183.154k Rank 1690
Цена в час новости $ 0.006892 (39.01%)

crypto management asset finance license cryptocurrency switzerland

Источник: bitcoinist.com

crypto management → Результатов: 126


Cremit ICO (CRMT Token): Crypto Volatility Insurance & Exchange?

With more investors joining the crypto world, there is a growing need to secure investments and offer a trusted and comprehensive risk management solution. That is why Cremit has been created. It offers a robust and researched solution that will help business owners and investors secure crypto investment. Why Cremit Matters As crypto continues to […]

2018-7-29 08:37


BitGo’s ‘Coin Selection’ Technology For Predictive UTXO Management to Cut Crypto Fees

Bitcoin’s ‘Coin Selection’ Technology Gets First Major Integration BitGo is going to be the first major crypto company that will adopt the coin selection technology from Bitcoin. This scaling tech has been touted as a way to ease the obsession with lowering fees since they hit over $20. Although the fees have since dropped to […]

2018-7-27 23:21


Фото:

Vietnamese Regulator Advises Firms and Funds to Keep Away From Crypto

The announcement follows a directive issued by the country’s prime minister earlier this year aimed at tightening what Vietnamese regulators call the management of crypto activities. The measure, referred to by local media as a ban, affects public companies, securities companies, fund management firms and securities investment funds. The document puts an emphasis on strengthening

2018-7-26 07:43


Фото:

Bitwise Files With SEC for Cryptocurrency ETF

Bitwise Asset Management is the latest venture to apply for a cryptocurrency exchange-traded fund (ETF). Called the Bitwise HOLD 10 Cryptocurrency Index Fund, the ETF will track the returns of the company’s HOLD 10 Index, a “market-cap-weighted index of the 10 largest cryptocurrencies” that captures roughly 80 percent of the total cryptocurrency market capitalization.

2018-7-25 02:18


Crypto Custodian Services to Launch in Hong Kong

A prominent South East Asia-based fund management company is considering the launch of a cryptocurrency custodial service targeting regional institutional investors. The Demand for Cryptocurrency Custodians As reported by South China Morning Post on July 22, 2018, the Singapore-based Fusang Investment Office is planning to offer cryptocurrency holding services after clients expressed rising interest in […] The post Crypto Custodian Services to Launch in Hong Kong appeared first on CryptoSlate.

2018-7-24 22:00


Huobi Partners Will Have The Ability To Develop Digital Asset Exchanges Rapidly

Cryptocurrency exchange Huobi which is in Singapore launched its Cloud businessarm, which will allow associates to develop digital asset exchanges rapidly. Huobi Cloud depends on Huobi’s existing exchange platforms to offer solutions of putting together over-the-counter (OTC) exchanges and cryptocurrency exchanges for partners who have little to no IT abilties.

2018-7-20 17:30


Фото:

Institutional Investors Brought in 56% of Capital at This Bitcoin (BTC) and Crypto Management Fund

The term ‘buying the dip’ has been floating around the crypto-verse ever since Bitcoin (BTC) showed signs of reaching the $5,800 levels late in May this year. As many inexperienced traders were panicking, the true veterans kept emphasizing that rather than cashing out, anyone with extra capital should be investing in Bitcoin (BTC) and the other […] The post Institutional Investors Brought in 56% of Capital at This Bitcoin (BTC) and Crypto Management Fund appeared first on Ethereum World News.

2018-7-19 17:08


Фото:

Billion Dollar Hedge Fund Manager Believes Blockchain Talent Is Moving in Waves

The founder of crypto’s biggest hedge fund, Polychain Capital, discussed the current movement of top-tier talent in the tech sector from traditional entities to blockchain-based projects. Olaf Carlson-Wee, Polychain’s CEO, gave his input on why he believes crypto is in its best state yet in an interview with Fortune’s “The Ledger.

2018-7-18 10:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Crypto Tax Payments Coming to the Swiss Canton of Zug

Switzerland’s crypto valley, Zug, is taking another step towards complete virtual currency adoption with plans to begin accepting tax payments in cryptocurrency. Several tax offices around the world have okayed citizens meeting their tax obligations using virtual tokens.

Major Swiss Insurer Adds Bitcoin and Ether Payments

Atupri, a Swiss health insurance provider, said Monday that its 200,000 customers will now be able to make payments using bitcoin and ethereum. The 110-year old firm claims it is the “first” insurer in Switzerland to accept cryptocurrencies.