Crypto Broker AG, a subsidiary of the holding company Crypto Finance AG, has just received a broker license from the Swiss financial regulator FINMA. Thanks to it, the company will now be able to exchange cryptocurrencies for large players, including commercial banks.
According to company director Rupertus Rothenhaeuser, the license granted by FINMA will expand the scope of activities and increase the level of compliance with requirements in terms of legal compliance, risk monitoring and liquidity. He added:
"Some of our client banks have strict orders only to trade with regulated partners. Now it’s just a case of calling them up to tick a box and they can start trading."
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Rothenhaeuser has pointed out that the FINMA approval will allow the company to hold funds in fiat currency, which will facilite payments.
The license obtained by Crypto Broker AG will put the company on par with regulated crypto banks SEBA and Sygnum.