🇨🇭 Swiss blockchain company gains regulator approval, seeks banking license in 2019

Swiss startup Smart Valor has become one of the few blockchain groups to win approval to operate in the Swiss financial market, opening the way for it to launch its own online investment platform later in the year. Smart Valor said it intends to launch an online platform for alternative investments, including cryptocurrencies, in the fourth quarter. The assets will be “tokenised” on the platform, which is underpinned by blockchain technology. Switzerland has made a name for itself as home to the “Crypto Valley” hub where hundreds of virtual currency projects have set up shop in recent years. But a lack of regulatory clarity and due diligence checks has made banks uneasy, leading them to cut off access to financial services for most of the industry.