Swiss regulator approves Blockchain firm Smart Valor to offer cryptocurrency services in the local financial market. What do we know about this entity?
6 September, AtoZ Markets – Smart Valor, a Swiss Blockchain company has recently been given the approval from the country’s regulators, which made it one of the few Blockchain groups to operate in the local financial market.
Swiss Regulator Approves Blockchain Firm Smart Valor
News emerging from Zurich reported that Swiss blockchain startup, Smart Valor, has been approved yesterday to offer cryptocurrency services by the financial regulators of the country, the Financial Market Supervisory Authority (FINMA) and by the local Financial Services Standards Association (VQF).
This latest move is believed to pave the way for the company to launch its own online investment platform in the fourth quarter of this year.
However, the company will not be regulated by FINMA but by the local VQF, a self-regulatory organisation endorsed by FINMA . The VQF is authorized to actively oversee the anti-money laundering (AML) compliance of the local companies.
At the moment, it remains unclear if others Blockchain related platforms have also gained the approval of FINMA and VQF as financial intermediaries since both regulators have declined comment on the matter.
Smart Valor Seeks Banking License
According to some of the online reports, the firm is applying for a banking license with the intention to expand their services to include securities investments in the early months of 2019.
While announcing the news, the founder of Smart Valor Olga Feldmeier stated that tokenization is going to change the way to approach investing. She has been quoted as saying:
“Tokenization transforms the way people own things, improves liquidity, and makes these investment opportunities accessible to a broader audience of investors.”
The group also added;
“Pending regulatory approval, the VALOR platform will expand its offering to asset-backed tokens, such as equity in blockchain companies, blockchain-related infrastructure projects, real estate, crypto funds, venture capital, and private equity funds.”
Switzerland is popularly known as the “Crypto Valley.” Among several countries, it is a hub that has welcomed hundreds of projects on virtual currencies in recent years.
Olga Feldmeier founded Smart Valor back in 2017. She had previously worked for Xapo, a Hong Kong-based Bitcoin wallet exchange.
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