Tagged: finma

Alpian Acquires FINMA Banking License, Finalizes CHF 19M Series B+ Round

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Alpian SA, an innovative digital private bank, has announced the granting by FINMA of a banking license and “a successful CHF19 million Series B+ closing, enabling Alpian to shortly launch to the public in Q3 2022, becoming Switzerland’s first digital private bank.” Alpian, majority-owned by… Read More

Switzerland Takes Protective Measures Regarding Sanctioned Russian Bank Sberbank, Which May Face Liquidity Problems

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The Swiss Financial Market Supervisory Authority FINMA has ordered protective measures regarding Sberbank AG, one of the Russian banks targeted with sanctions. Switzerland has joined the economic sanctions along with the EU and other nations to apply pressure to Russia following its unprovoked war with… Read More

More Sanctions: Switzerland Says Transactions with Central Bank of Russia Blocked, Aligns with EU Actions

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Recently Switzerland has taken unprecedented steps to apply economic sanctions targeting Russia due to its unprovoked war with Ukraine. Historically neutral when it comes to political conflict, the criminal act by Russia and Vladimir Putin was simply too much for the Alpine nation. Today, Switzerland… Read More

Traditionally Neutral, Switzerland Supports EU Sanctions Targeting Russia

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Earlier today, the Swiss Federal Council adopted the European Union (EU) sanctions packages of February 23 and 25. The move is designed to remove Switzerland as an option for  Russia to evade economic sanctions as Russia continues its criminal act of war against Ukraine. Switzerland… Read More

Deutsche Börse Finalizes Acquisition of Majority Stake in Crypto Finance

Deutsche Borse Frankfurt Germany Trading Floor

Deutsche Börse has completed the acquisition of a majority stake in Crypto Finance, a FINMA-regulated provider of trading, custody, and investment services for digital assets. The agreement was “signed in June, and closing was on 15 December 2021,” the announcement confirmed. The acquisition lays the… Read More

Switzerland based Digital Banking Challenger YAPEAL Acquires License Extension from FINMA

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Switzerland’s digital challenger bank YAPEAL reveals that the Swiss Financial Market Supervisory Authority (FINMA) has granted it a license extension in order to provide cross-border services to international clients. As mentioned in the announcement, the services include national payments, cross-border  transfers, a Visa debit card… Read More

Urban Angehrn Takes Over as FINMA CEO

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Urban Angehrn has moved into the CEO role at the Swiss financial services regulator FINMA (Financial Markets Supervisory Authority). Angern replaced Mark Branson who took over the leadership of German finance regulator BaFin. The transition was initially revealed this past summer. Angehrn issued the following… Read More

SIX Swiss Stock Exchange Receives FINMA Approval for its SDX Bourse

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Switzerland’s stock exchange SIX has reportedly acquired regulatory approval from the financial market supervisor for its SDX bourse. This should help with paving the way for the platform to be deployed with its marketplace for crypto-assets. Thomas Zeeb, Global Head of Exchanges at SIX, noted… Read More

Diem, Formerly Libra, Withdraws Application in Switzerland to Focus on US Dollar Stablecoin

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In a significant twist of events, Diem, formerly Libra, has withdrawn its payment systems application in Switzerland. Diem had submitted an application to Switzerland, a crypto-friendly jurisdiction, in anticipation of launching a global cryptocurrency. The  Swiss Financial Market Supervisory Authority (FINMA) said that Diem Networks… Read More

Denied: Bitcoin Suisse AG Application for Bank License Refused by FINMA

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Bitcoin Suisse AG has been denied by the Swiss Financial Market Supervisory Authority (FINMA) in its application for a banking license.  Bitcoin Suisse submitted an application for a Swiss banking license in July 2019. According to a statement by FINMA, the bank license application was… Read More

Fintech Firm Crypto Finance AG’s Crypto Broker AG Awarded License by FINMA to Act as Securities House with Bilateral Trading Activity

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Crypto Broker AG, which is the Crypto Finance Group‘s brokerage, has reportedly been issued a license to serve as a securities house along with a bilateral trading facility by the Swiss Financial Market Supervisory Authority (FINMA). After this license has gone into effect or become… Read More

Libra No More: Digital Currency Initiative Libra Association Changes Name to Diem

Diem Logo

The Libra Association, the initiative launched by Facebook to create a global digital currency, has changed its name to Diem, according to a note from the group. Recently, there have been multiple reports that the Diem Association is gearing up to launch its digital currency…. Read More

Regulated Digital Asset Focused SEBA Bank Completes Independent Audits

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SEBA Bank AG, a bank that is regulated and licensed by the Swiss Financial Market Supervisory Authority (FINMA), has completed two independent audits in relation to existing processes and controls. SEBA Bank is a digital asset focused firm that offers an “institutional-grade solution for digital… Read More

Switzerland’s One-Stop B2B InCore Bank Enables Fiat On-Ramps for Digital Asset Exchange Kraken

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Switzerland-based InCore Bank, a “one-stop” B2B transaction bank (founded in 2007), has reportedly enabled fiat on-ramps for digital asset exchange Kraken’s European customers. Europe’s retail and institutional clients can now purchase cryptocurrencies like Bitcoin (BTC) and Ether (ETH) through Kraken by using their fiat money… Read More

The Libra Association Announces New CEO as Stuart Levey Steps Into Leadership Position

Stuart Levy

The Libra Association, founded by Facebook to create a global payments cryptocurrency, has announced the selection of Stuart Levey as its first CEO. Levey will step into the leadership position from HSBC, a global bank with 235,000 employees across 64 countries. Levey is currently serving… Read More

Switzerland’s Sygnum Bank Now Supports XRP Digital Tokens via its Online Banking Platform

Ripple XRP

Sygnum Bank, a licensed digital asset bank, confirmed on April 30, 2020, that XRP digital tokens will be available through its banking services platform. Customers now have the option of depositing, trading, and accessing credit services using the XRP cryptocurrency. Headquartered in Switzerland, the FINMA-licensed… Read More

Due to the Global Relevance, FINMA Posts Statement on Libra’s Application for a Payment System License

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The Swiss Financial Market Supervisory Authority (FINMA) has distributed a statement on Libra’s application for a “payment system license.” Initiated by Facebook, Libra is a digital currency attempting to facilitate payments globally outside of the traditional payments rails. The Libra Association is headquartered in Geneva,… Read More

Switzerland: Libra Association Seeks Payment Service License from FINMA

Libra Association Members

The Libra Association, Facebook’s push to create a global non-sovereign digital currency, is applying for a Payment System License from the Financial Markets Supervisory Authority (FINMA) in Switzerland. In addition to applying for the FINMA license and updating the white paper, the Libra Foundation reports… Read More

Switzerland: FINMA Annual Report Highlights Fintech Development Including Digital Assets, ICO Enforcement Actions

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The Swiss Financial Market Supervisory Authority (FINMA) has published its annual report for 2019. FINMA said that blockchain technology continued to “preoccupy FINMA intensively.” FINMA currently oversees over 29,200 financial services firms and products. FINMA said it is increasingly seeing the development of digital securities… Read More

Digital Assets Focused SEBA Bank Plans to Raise $96.5 Million in Capital from New Investors

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SEBA, a Switzerland-headquartered digital asset bank that holds regulatory licensing, is reportedly planning to raise $96.5 million in capital. During the fundraising, SEBA’s management intends to secure 100 million Swiss francs (appr. $96.5 million) from new investors, which include established financial institutions, family offices and… Read More

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