Regulatory Approval Granted to Swiss Blockchain Company in Fintech sector

While the world is taking its time to understand how the revolutionary Blockchain technology works, Smart Valor, a Swiss blockchain startup took another step after the regulatory bodies from the country agreed it operates in the local financial market.

Smart Valor was founded by Olga Feldmeier in 2017. Just as the internet democratized access to information, the goal of the VALOR Platform is to democratize access to wealth. Smart Valor does to wealth and asset what cryptocurrencies do to virtual money, both of them are based on Blockchain technology. Tokenization is the conversion of rights to an asset into a cryptographic token issued on the blockchain.

There are a number of countries that, in the name of protecting their economy, did not get on board with the revolutionizing new technology. However, Switzerland is one of the countries that is actively manipulating their legislation to welcome the blockchain technology. The country is also home to the world-famous Crypto Valley located in the canton of Zug.

The blockchain startup won approval from the country’s regulators to operate in the local financial market. Instead of the Financial Market Supervisory Authority (FINMA) the local Financial Services Standards Association (VQF) will be regulating Smart Valor. VQF is authorised by FINMA to check anti-money laundering (AML) compliance.Financ) instead of the Financial Market Supervisory Authority (FINMA). VQF is authorised by FINMA to check anti-money laundering (AML) compliance.

At the latest G20 finance minister’s meeting held at Buenos Aires, Swiss finance minister mentioned how digital asset can offer a great potential to the financial services, he also mentioned the position on cryptocurrencies.

The CEO of Smart Valor, Olga Feldmeier said: “Most of these investments have previously only been available to a small elite of high-net-worth individuals and institutional investors.”

He further added, “Tokenization transforms the way people own things, improves liquidity, and makes these investment opportunities accessible to a broader audience of investors.”

The group said it was applying for a banking license in order to expand its offerings to include securities investments, planned for the first half of 2019.

“Pending regulatory approval, the VALOR platform will expand its offering to asset-backed tokens, such as equity in blockchain companies, blockchain-related infrastructure projects, real estate, crypto funds, venture capital, and private equity funds,” the group said in a statement.

In the past two years, Zug, a Swiss town famous as crypto valley along with Switzerland’s financial capital Zurich has seen the birth of number of crypto startup companies. There are many Swiss crypto companies that are trying to operate as a bank but they avoid deploying too much marketing noise, they just deliver, “Swiss style.”