Zurich-based Crypto Broker AG Receives Securities License from FINMA
Crypto Broker AG has obtained a securities house license from Swiss financial regulator, the Swiss Financial Market Supervisory Authority (FINMA) that will allow the company to offer services to institutional investors — “a significant milestone (that) caps a successful previous year,” the broker said in a statement Monday.
The firm is based in Switzerland, which has crypto favorable regulations, while major banks still stayed largely away from offering blockchain-based services.
Moreover, the securities license has been granted to a handful of companies that includes Sygnum and SEBA. Calling this a “pivotal moment,” Jan Brzezek, founder and CEO of the Crypto Finance Group, said, with this license,
“We will be able to offer our professional – and regulated – services to even more financial institutions, enabling them to enter this new asset class.”
Receiving the license means the broker can now hold funds on behalf of its clients as well, a feature which is “highly relevant for institutional clients, as many do not have their own capability.”
AG’s clients traded more than $1 billion in assets last year, with its digital operations growing “exponentially.” The company expects to further expand its business in 2021.