The Swiss crypto trading house won a securities license from its home regulator – putting it on equal footing with traditional lender in what products and services it can offer.
The Zurich-based company's brokerage arm won a securities house license from Swiss regulator Finma, it said in a statement on Monday. This means it can offer products, services, and trading platform features like trading security tokens to institutional clients.
The move is a further step into traditional finance for Crypto Finance, founded in 2017 by ex-UBS banker Jan Brzezek. The start-up, which last week it inked a software deal with Avaloq, said its brokerage traded more than $1 billion in assets last year.
In December, Crypto Finance poached Rupertus Rothenhaeuser from SDX, the Swiss stock exchange's digital venue, to run its brokerage arm. Rothenhaeuser said he expects «continued business expansion» for the brokerage this year.
