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Smart Valor, a Switzerland-based blockchain startup, has received the regulatory approval to operate in the Swiss financial market, Reuters said in a report dated September 5.
Founded in 2017, Smart Valor aims to build a decentralized marketplace for tokenized alternative investments backed by secure custody for crypto assets. It is hosted by the Thomson Reuters Incubator.
According to the report, the company would not be under the direct supervision of the Swiss Financial Market Supervisory Authority (FINMA), but a FINMA-approved self-regulatory body called VQF, which checks anti-money laundering compliance.
With this approval, Smart Valor said it plans to launch an online platform for alternative investments, including cryptocurrencies, in the final quarter of 2018. The assets will be “tokenized” on the platform – tokenization is the conversion of rights to an asset into a cryptographic token issued on the blockchain.
“Most of these investments have previously only been available to a small elite of high-net-worth individuals and institutional investors,” Chief Executive Olga Feldmeier said. “Tokenization transforms the way people own things, improves liquidity, and makes these investment opportunities accessible to a broader audience of investors.”
Smart Valor is also applying for a banking license, which will help it expand its offerings to include securities investments, expected to be rolled out 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,” it said.
