Long in the making, Zurich’s Crypto Broker AG announced Monday it has been granted a securities house license by the Swiss Financial Market Supervisory Authority (FINMA).
Crypto Broker AG is part of a digital assets conglomerate that includes asset management and storage infrastructure services. The license means broadening the scope of its business and adding a rubber-stamp when it comes to compliance, risk monitoring, liquidity reporting and so on, said Crypto Broker CEO Rupertus Rothenhaeuser.
“Some of our client banks have strict orders only to trade with regulated partners,” Rothenhaeuser said in an interview. “Now it’s just a case of calling them up to tick a box and they can start trading.”
Switzerland is probably the only place on the planet where regulations are actually keeping up with crypto infrastructure. That said, only a handful of crypto firms have been given FINMA’s blessing.
The securities license invites Crypto Broker AG to join other regulated…