A Swiss cryptocurrency exchange called Smart Valor has been launched this week. The new company will trade Bitcoin (BTC) and Ethereum (ETH), which can be traded against the Swiss franc, euro, and U. S. dollar.
According to its team, the services will be a combination of the brokerage with custody and new currencies are set to be added monthly. The company will also eventually have its own token, the VALOR currency.
Smart Valor’s CEO Olga Feldmeier has affirmed that it took 18 months of development for the company to be ready to launch its platform and that this can be a huge step for the market because it will be the first security token exchange for alternative investments.
The headquarters of the new company will be based in Zug, which is also the base of the Crypto Valley Association, an important blockchain organization in the country.
Olga affirmed that Switzerland is one of the largest wealth destinations of the whole world and it has been an important figure for data privacy and security for years, which is why the country was chosen to be the location of the company.
Before the launch of the platform, the company was able to get $3.25 million USD from its latest investment round. The round was led by companies such as Tally Capital and Venture Incubator and it has several investors from Asia and the United States.
Companies From The Crypto Valley Are Growing Up
Switzerland is certainly turning into an important crypto hub. Several companies from the country, specifically from the so-called Swiss Crypto Valley are growing up a lot lately in this important hub.
Aximetria was one of the companies that recently rose to prominence as it was able to get the country’s Anti-Money Laundering license, a very important license that is very difficult to get.
Smart Valor will be another company from the region to offer its services in the crypto market. The company had its activities approved last year by local regulators. At the time, it was able to get investments from several important companies in the country.
David Johnson, an investor of the country, affirmed that Switzerland needs its own Coinbase-like company and he believes that Smart Valor will be able to fill that role.