Swiss regulator issues banking licenses to blockchain firms for the first time

posted 21 days ago
Switzerland’s financial regulator (FINMA) issued banking and securities dealers’ licenses to 2 new blockchain firms - SEBA Crypto and Sygnum. The regulator said this is the 1st time it has issued such licenses to “pure-play blockchain service providers." The licenses will allow SEBA Crypto & Sygnum to provide services to institutional and professional customers.

"Sygnum’s plans for corporate include the ability to raise new capital by producing asset tokens based on existing financial assets, thereby lowering capital raising costs and improving liquidity for issuers and investors.” SEBA Crypto said the license is a "milestone for the entire digital asset market ecosystem" and the bank expects to go-live in October 2019.
Tags: blockchain, news