Smart Valor has recently raised $3.35 million in an investment round led by Venture Incubator, including Tally Capital and some other Asian and US Investors.
Swiss-based cryptocurrency exchange also launched a new exchange which it will operate from both Switzerland and Liechtenstein that will offer custody, trading and brokerage services. In the beginning, the company will provide BTC and ETH, each of which can trade in place of fiat currencies such as CHF, EUR, GBP, and USD. The information was shared via a blog post on July 30.
The company is headquartered in the town of Zug, that is also home of Switzerland’s Crypto Valley Association, and portrays the first integrated exchange provider to release in the country.
Olga Feldmeier, CEO of Smart Valor said in the blog post, “After 18 months of development, we are excited to go live with a core element of the SMART VALOR Platform — the exchange.”
She told CoinDesk in an email:
“Today, Switzerland is the largest global wealth destination, home to a quarter of all global offshore wealth. For over 200 years this place stands for data privacy, safety, and security, with an impeccable reputation and high-quality banking services. The same is true for Liechtenstein. But until today, ironically enough, neither Swiss Crypto Valley nor Liechtenstein had an exchange offering trading and custody of digital assets. Smart Valor is changing this, giving the privilege of stable, safe-haven jurisdiction not only to the rich but to all.”
Smart Valor was adopted as a regulated financial broker in Switzerland in 2018. Venture Incubator program is a joint enterprise of ETH Zurich and consulting firm McKinsey & Company. This program is supported by Switzerland’s leading firms.
The firm stated in the press release, with the basic exchange now live, the firm will add more tokens every month with the main purpose of making it the most potent exchange for security tokens supported by real-world assets.
David Johnston, one of the Smart Valor Investor, said in the last few years hundreds of crypto exchanges were opened, out of which only a dozen are legal, compliant, license and safe. He added, “Switzerland, being at the top of the hierarchy of financially savvy but crypto-friendly jurisdictions, needs its own Coinbase.”
The exchange’s launch is followed by a campaign which gives initial users fee-free trading and brokerage services in the first three months. As of now, complete access of the program is being taken by 5,000 users registered on the platform before its launch.
Feldmeier said in the blog post:
“This brings us a huge step forward to our vision of becoming the world’s first security token exchange for alternative investments.”