Smart Valor gains regulatory approval to trade in Swiss market
Smart Valor, the blockchain-based financial intermediary that describes itself as a “secure, democratized access to wealth”, has won approval to operate in Switzerland’s financial market.
Based in Switzerland’s so-called “Crypto Valley” of Zug, Smart Valor’s website declares: “We believe passionately that global investments should be simple, fair and accessible to everyone. Making this a reality is what drives us.”
The company’s platform claims to democratize access to borderless wealth and investment opportunities – “independent of home state intervention”.
It states: “Bitcoin and blockchain have reinvented money. How we generate, manage and store wealth will follow.”
Smart Valor’s online platform is scheduled for launch in the fourth quarter and the company is also applying for a banking licence, from which it hopes to offer securities trading in the first half of next year.
Welcome to Zug
The Zug canton has become home to many companies offering cryptocurrency and blockchain services, thanks to its business-friendly corporate tax rate, relaxed regulatory landscape and thirst for attracting innovative new businesses.
Among the best-known businesses to have been attracted by Zug’s many incentives is the Ethereum Foundation, which runs one of the most used blockchain networks and the second-biggest cryptocurrency by market capitalisation.
Smart Valor will be regulated by the local Financial Services Standards Association rather then the national – and better known – Financial Market Supervisory Authority (FINMA).