A group within the “Crypto Valley” in Switzerland is looking to move itself forward in terms of regulation. Going by the name of Bitcoin Suisse, they’re applying for a banking license with the Swiss Financial Markets Supervision Authority (FINMA), according to a press release.
If they acquire the license, the group will be able to “expand its offering with regulated services and products,” says the post. This will ensure they can be a stronger “provider of crypto financial services”. Essentially, Bitcoin Suisse is doing what they can to future-proof themselves as the world changes towards blockchain regulation.
In fact, this isn’t even the first of the company’s achievements in the crypto space over the past few months. Recently, the group has accomplished publishing its first financial results which were very positive as well. From there, it has been able to offer collateral for those investing in the project, making themselves much more appealing for clients working in both the fiat and crypto online trading spaces.
Speaking of trading, Bitcoin Suisse has also “expanded its offering to 125 tradable crypto assets for a total of more than 6000 trading pairs”. From there, it has even been working to bring in “large scale crypto asset collateralized lending/credit” for clients both private and institutional. This is a direct result of its increase in clients in 2019.
As of June of this year, the firm is also proud to call itself “one of the largest and possibly the safest B2B technology” providers for cryptocurrency assets. It houses over $1 billion in cryptocurrencies within its “hyper secure storage” solutions.
Finally, Bitcoin Suisse has expanded to have over 90 industry experts working on its team. These members are “a unique combination of crypto, IT, banking, legal, risk and compliance” employees. It will continue to bring on more talent as it grows in terms of both market position and general experience.