The launch of the service follows the increasing demand from the company’s clientele, ‘who seek to include digital assets as one asset class in their diversified portfolios’. It provides custody and brokerage, and is currently only compatible with BTC and ETH.
Switzerland has been a crypto-friendly country, with policies and laws already being put into place to ensure that the crypto space can thrive without necessarily harming any other constructs of the political establishment. For example, the Financial Market Supervisory Authority, Switzerland’s financial watchdog, released new regulatory guidance for blockchain payments. This aim to help guide the utilisation of crypto exchanges, wallet platforms, and crypto trading services on payments. The agency clarified that crypto companies would have to implement the same AML and KYC recommendations from the Financial Action Task Force (FATF).
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