Copper.co (a.k.a. Copper), a firm offering institutional digital asset custody and trading solutions, has confirmed winning regulatory approval from the authorities in Switzerland. As per the official announcement, the firm has been approved for membership in the Swiss Financial Services Standard Association (‘VQF’) through Copper’s Swiss entity in Zug.
Copper expands into Switzerland
VQF is a self-regulatory organization recognized by the Financial Market Supervisory Authority (FINMA), the Swiss regulator. The VQF membership “provides assurance to its clients regarding the robustness of its compliance with the Swiss Anti Money Laundering,” said the announcement. Copper’s chief legal officer, Carly Nuzbach Lowery, said:
“As Copper expands globally, VQF’s validation underscores our commitment to working with regulators around the world, to standards set in multiple jurisdictions, to become a worldwide leading provider of digital asset custody and infrastructure.”
Copper rose to popularity after the debut of its services in 2018 and currently offers custody, prime brokerage, and settlements across 450 digital assets and more than 45 exchanges. The firm also offers flexible solutions to issues related to the rapidly changing world of digital assets.
Alexander E. Brunner, President of Home of Blockchain.swiss, and MP of the City of Zurich commented on Copper’s win in Switzerland:
“We would like to extend our warmest congratulations to Copper, and we are excited to welcome them to our thriving digital asset ecosystem here in Switzerland.”
Switzerland takes the lead in terms of crypto adoption
Switzerland has taken the lead in terms of crypto adoption as recently, FINMA has approved the Crypto Market Index Fund as the first crypto fund under Swiss law, as per a previous report from Cryptonary. Additionally, the Fund will track the Crypto Market Index 10, a product managed by the SIX Swiss Exchange.
Copper is not the only crypto-based firm approved in the nation, as recently, Hashdex, a global crypto-focused asset manager, was authorized by the SIX Swiss Exchange to issue ETPs in Switzerland.
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