Zurich-based Crypto Broker AG has been awarded a securities house license with a bilateral trading facility by the Swiss Financial Market Supervisory Authority (FINMA), the firm said in a press release on 1 February.
According to the announcement, the new license will allow the firm to expand the scope of its business and begin offering new products to its clients. Crypto Broker AG — which is part of digital assets conglomerate Crypto Finance Group — is one of the few crypto brokers around the world to fulfil the licensing requirements that securities firms active in the financial markets do. The CEO of Crypto Broker AG, Rupertus Rothenhaeuser, said in a statement:
“Today’s announcement marks a milestone in achieving the Crypto Finance Group vision: providing professional products and services for the evolving digital asset universe. Given last year’s exponential growth in digital asset operations with our clients, we expect continued business expansion in 2021.”
The new securities license will not only allow the firm to offer its services to more financial institutions, but also to dive into the world of regulated security tokens. The license will also help the firm deal with any headaches around payments and processing, as it allows Crypto Broker AG to hold the fiat funds of its clients.
Having cleared over $1 billion in trades last year, Crypto Broker AG expects the new license will further bolster its growth, now that it can offer its clients tokenized securities. The firm is joining the likes of SEBA and Sygnum Bank as a holder of a FINMA license