NEW VPS PLANS

Experience Ultra-high Performance of NVMe Storage on New UK VPS Plans.

Deploy Instantly
  • +357 2425 0808
  • Login
  • English

Home

Blog

Bitcoin wallet gets approval to operate ...

Bitcoin wallet gets approval to operate in Switzerland

Bitcoin wallet gets approval to operate in Switzerland

NetShop ISP

NetShop ISP · Blog Author

Jan 30, 2017 · Archive

Bitcoin startup Xapo has revealed that a “conditional approval” from Switzerland’s financial regulator to operate in the country was received.

It was announced by Xapo CEO Wences Casares: “After almost two years of substantial effort and investment, Xapo has received conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in Switzerland,” he said in a blog on the company’s website.

The preliminary approval depended on several factors, including a mandatory membership with the Self-Regulatory Organization (SRO). However, Casares said that the company was optimistic the conditions would be met.

According to Olga Feldmeier, a former managing partner of Xapo, who is in charge of the Swiss licensing process for the company, Xapo does not need to secure a costly banking license because FINMA has designated the bitcoin wallet as a “financial intermediary”.

Switzerland already hosts a number of cryptocurrency companies, but Xapo’s operation as a bitcoin wallet provider had raised questions over whether it required a banking licence. The facts that the company does not accept deposits and is serving non-U.S. customers from Switzerland are working as an advantage for now.

Recently, Swiss authorities have been very clear about their plans to catch up with the rapidly changing financial technology landscape and to secure a leading role for their country.

Press Releases
74

Free VPS Trial

No Credit Card Required.

Recent Posts

NetShop ISP to Attend iFX EXPO International 2024 and Announce Global Infrastructure Expansion

NetShop ISP to Attend iFX EXPO International 2024 and Announce Global Infrastructure Expansion

23 May, 2024

TNFX Broker Partners with NetShop ISP to Offer Low-Latency Forex VPS to Traders

TNFX Broker Partners with NetShop ISP to Offer Low-Latency Forex VPS to Traders

14 May, 2024

How to Install Nginx, MySQL, PHP on Ubuntu 22.04 (LEMP)

How to Install Nginx, MySQL, PHP on Ubuntu 22.04 (LEMP)

10 May, 2024

How To Migrate from MongoDB Atlas to self-hosted Ubuntu 22.04 Server

How To Migrate from MongoDB Atlas to self-hosted Ubuntu 22.04 Server

15 April, 2024

How NetShop ISP Improves Trading Infrastructure Resilience through Equinix LD7 Data Center Hosting

How NetShop ISP Improves Trading Infrastructure Resilience through Equinix LD7 Data Center Hosting

21 March, 2024

#letushostyou

Award Winning Hosting Provider established in 2004.

120 Faneromenis Avenue, Imperial Tower, 2nd Floor, Larnaca 6031, Cyprus

Products

Bare Metal Servers

Customized Servers

Virtual / Cloud Servers

Forex VPS

Storage VPS

cPanel Web Hosting

Reseller Web Hosting

Colocation

Addons

Premium DNS

Email Hosting

Cloud Backup

DDoS Protection

Licenses

SSL Certificates

Domain Names

Premium SLAs

About Us

Data Center Locations

Looking Glass

Our Company

Contact Us

Careers in Cyprus

Become a Partner

Awards

Certifications

© 2024 S.S. NetShop Internet Services Ltd. All rights reserved.  Terms & Conditions  |  Privacy Policy
CY Reg. Number: HE 217340 | EU VAT Number: CY10217340J

Visa
Mastercard
PayPal
Bitcoin
Tether
Ethereum
Litecoin
Wise
Revolut
Wire Transfer