World’s 1st crypto banks get licenses in Switzerland ...News

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World’s 1st crypto banks get licenses in Switzerland
The Swiss financial regulator has granted capital market and securities dealer licenses to two blockchain companies, set to become the world’s first crypto banks. The Swiss Financial Market Supervisory Authority (FINMA) has issued licenses to Zug-based SEBA Crypto AG and Zurich-headquartered Sygnum AG earlier this week, making them the first companies registered in Switzerland as broker-dealers with a blockchain focus. The companies will be able to issue, store, trade, and manage digital assets – namely bitcoin and ethereum – as well as convert fiat currencies such as Swiss francs, US dollars, and euros into the two cryptocurrencies.

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