Bitzox received a FINMA license to trade bitcoin with banks13.10.2022
Bitzox received a broker-dealer license from the local financial regulator FINMA. This will open up cryptocurrency trading to major players, including commercial banks. According to the CEO of the company, the FINMA license will expand the scope of activities and increase the level of compliance with the requirements in terms of legal compliance, risk monitoring and liquidity. “Some banks have strict regulations to trade only with regulated partners. Now we fit this criterion. We have been waiting for this license for four and a half years, ” he explained. He also added that FINMA’s approval will also allow the firm to store funds in fiat, which will facilitate payments. The head of the company announced the expansion of the customer base in the near future. The received license will deliver Bitzox one of the best regulated crypto exchanges. The company plans to join the security token space after the entry into force of the blockchain law.