Crypto Broker AG, which is the Crypto Finance Group‘s brokerage, has reportedly been issued a license to serve as a securities house along with a bilateral trading facility by the Swiss Financial Market Supervisory Authority (FINMA).
After this license has gone into effect or become valid, it may potentially bring in new business clients as the possibility to trade security tokens could support continued growth for financial service clients (who may have specific products and comprehensive core banking solutions).
This license aims to serve a means to establish trust in Crypto Broker AG as one of the leading cryptocurrency brokers, which intends to adhere to the licensing requirements that securities companies in the regulated financial markets are expected to fulfill.
Crypto Broker’s management stated that the license should be a sign of recognition of the company’s professional approach to digital asset trading, liquidity provision, and innovation in the digital financial services sector.
During the past year, the brokerage reported trading more than $1 billion worth of assets and is now expecting to further grow its operations in 2021.
Jan Brzezek, Founder and CEO of the Crypto Finance Group, stated:
“Getting the securities house license for our brokerage is a pivotal moment for us. It means that we will be able to offer our professional – and regulated – services to even more financial institutions, enabling them to enter this new asset class. The license also recognizes our team’s dedication and expertise.”
Rupertus Rothenhaeuser, CEO of Crypto Broker AG, remarked:
“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.”
As noted by its management team, the Crypto Finance Group’s brokerage services allow banking platforms and institutional investors to take part in the nascent digital asset class with “secure, liquid, and transparent trading.” The brokerage provides investors with professional 24/7 access and liquidity provision for the digital asset markets through CAT, the company’s algorithmic Crypto Asset Trader, and via REST and FIX APIs.
As noted by its management, Crypto Finance AG is a Fintech firm launched in June 2017, offering blockchain-enabled services via its three subsidiaries: Asset Management, Brokerage, and Storage.
The main goal of Crypto Finance AG is to “facilitate the implementation of blockchain technology in the global economy,” in order to support “high-quality” financial services.
Crypto Finance AG is based in the Crypto Valley in Zug, which is “one of the world’s densest clusters of crypto economics companies and innovative organizations using blockchain technology.”
Crypto Finance AG’s board of directors includes Tobias Reichmuth PhD, Co-founder, Chairman; Jan Brzezek, Co-founder and CEO; Marc P. Bernegger; Raymond J. Baer; and Philipp Cottier PhD.