Smart Valor, a Swiss blockchain startup founded by Olga Feldmeier in 2017 has received regulatory approval to operate in the local financial market.
According to a Reuters report, Smart Valor will be regulated by the local Financial Services Standards Association (VQF) rather than the national regulatory agency, the Financial Market Supervisory Authority (FINMA).
Possessing such approval means that the company will be checked for Anti-Money Laundering Compliance by the VQF. The VQF has been authorized by the FINMA to carry out this regulatory role within Switzerland.
It is expected that coming under regulatory compliance will also give more credibility to Smart Valor’s goal to disrupt the country’s existing financial system. Speaking in the report, CEO Olga revealed how much tokenization could change traditional investing.
“Tokenization transforms the way people own things, improves liquidity, and makes these investment opportunities accessible to a broader audience of investors,” he said
Getting regulatory approval is considered the first step in the process as the company counts on the friendly blockchain ecosystem in the country to fully develop its solution. Switzerland is among the few countries who are providing legislation for blockchain-related projects in order to encourage the growth of the technology.
The Future For Smart Valor Blockchain Company
The Swiss blockchain startup plans to launch an online platform for alternative investments which will include cryptocurrencies. As revealed in the Reuters report, the project is expected to be realized as soon as the fourth quarter of 2018.
The company is also about to apply for a banking license, which the firm hopes will allow it to offer securities investments in the first half of 2019.
“Pending regulatory approval, the VALOR platform will expand its offering to asset-backed tokens, such as equity in blockchain companies, blockchain-related infrastructure projects, real estate, crypto funds, venture capital, and private equity funds,” the group said in a statement.
Founder, Olga Feldmeier had previously worked by Chinese-based wallet Xapo and knows a lot about blockchain and cryptocurrencies.