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  • Crypto Finance will now offer asset management services, brokerage and crypto storage services in Switzerland.
  • “The importance of crypto assets is growing and our aim is to accelerate maturity in these markets,” CEO of Crypto Finance.

The finance regulator in Switzerland, FINMA is reported to have issued the first cryptocurrency asset management license. The company referred to as Crypto Finance now has the mandate to carry out its operations like any other asset manager in the country. Switzerland has been said to be making significant steps towards cryptocurrency mass adoption and the blockchain technology.

Crypto Finance is also allowed to offer the services to institutional investors. The license has been issued in the crypto asset class. Apart from asset management, Crypto Finance will offer other services such as brokerage as well as storage services. The chief executive officer of Crypto Finance, Jan Brzezek said in regard to the new development:

“The importance of crypto assets is growing and our aim is to accelerate maturity in these markets. Regulatory recognition remains highly sought after by participants, as seen in recent press and company statements.”

At the beginning of 2018, the company was issued with a limited freedom permit in order to act as a distributor of offshore-based digital funds. The current license has opened the firm to a “wider array of collective investment products that track bitcoin and other cryptocurrencies, including funds based in Switzerland.”