The Swiss Blockchain company obtains the approval of the regulator and obtains a banking license in 2019


The Swiss blockchain startup Smart Valor has obtained the approval of the regulators of the country to operate in the local financial market, Reuters reported on 5 September.

Smart Valor will be regulated by the local Financial Services Standards Association (VQF) rather than by the national regulatory agency, the Financial Market Supervisory Authority (FINMA). The VQF is authorized by FINMA to verify anti-money laundering compliance (AML).

The status of financial intermediary approved by the regulator would give Smart Valor more credibility, as it will be actively monitored for AML compliance. However, it is unclear whether other companies related to the blockchain in the country have obtained approval as financial intermediaries. Both FINMA and VQF have declined to comment.

According to Reuters, Smart Valor plans to launch an online platform for alternative investments, including cryptocurrencies, in the fourth quarter of 2018. The company is also requesting a banking license, which the company Hopes will allow it to offer investments in securities in the first half of 2019.

Smart Valor founder Olga Feldmeier told Reuters that tokenisation will change the way people approach investment:

"Tokenization transforms the way people own things , improves liquidity and makes these investment opportunities accessible to a wider audience of investors. "

Switzerland is among several countries that are actively adapting and creating legislation to accommodate blockchain projects. As reported previously by Cointelegraph, the village is home to a famous Crypto valley, located in the canton of Zug.

In early July, local businesses helped Zug's government experiment with blockchain technology in the local online voting system. The non-binding trial vote involved 72 out of 240 citizens with access to the online voting system.

Smart Valor was founded in 2017 by Olga Feldmeier who had previously worked for the Chinese Bitcoin Xapo wallet. Feldmeier founded the company in an attempt to break the Swiss banking system.

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