Swiss crypto exchange Smart Valor on Tuesday announced the launch of its much-anticipated digital currency trading platform with nine trading pairs.
Per the official announcement, the exchange is listing two cryptocurrencies – Bitcoin and Ether – in the initial phase against the Swiss Franc, British Pound, euro, and US dollar. The platform also offers custody services along with its trading platform and assured that it would add new digital currencies on a monthly basis for trading.
“After 18 months of development, we are excited to go live with a core element of the SMART VALOR Platform – the exchange. This brings us a huge step forward to our vision of becoming the world’s first security token exchange for alternative investments,” Olga Feldmeier, chief executive of the exchange, said.
A well-regulated exchange
The exchange also boasts its proprietary technology and says that it can handle one million orders per second. It also registered 5,000 traders on the platform before the launch of its services, the announcement detailed.
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The Zug-headquartered exchange received regulatory approval to operate as a financial intermediary in Switzerland and also has a license to run a crypto-fiat exchange from Liechtenstein. It has also become the first integrated digital asset exchange to operate from both Switzerland and Liechtenstein, per the company.
The exchange is now pushing to gain multilateral trading facility (MTF) license which will allow it to list and trade any type of tokenized securities including equity instruments, funds, and derivatives.
“The core functionality, compliance, and payments are pretty much identical for Cryptocurrency and security tokens exchange. Therefore, while working our way through the licensing for trading of security tokens, we already moved forward with the launch of the exchange for non-security instruments such as Cryptocurrencies and other blockchain-based tokens,” Thomas Felber, chief technology officer of the company, added.
The exchange also received $3.25 million in funding recently. The investment round was led by Venture Incubator and participated by many the United States and Asia-based investors.