Crypto-Valley based Crypto Finance AG announced today closing a CHF 16M financing round with Swiss investors and entrepreneurs, among them Rainer-Marc Frey and Dr. Philipp Cottier. The additional capital will be used as regulatory capital to apply for a Swiss banking license.
With its three divisions Crypto Fund, Crypto Broker and Crypto Storage, the company is in the process of applying for a banking license with the Swiss financial authority FINMA. This process will take some time, but “it is of critical importance to prepare this step early on, to be strategically positioned to offer a full range of financial services to crypto investors”, states Jan Brzezek, the CEO of Crypto Finance AG.
“This financing round further strengthens our excellent network of finance professionals, investors, and entrepreneurs,” says Dr. Tobias Reichmuth, the Chairman of the Board at Crypto Finance AG. “With this additional capital, Crypto Finance AG is now geared towards bringing much-needed professionalism to the crypto and blockchain market,” adds Dr. Philipp Cottier. “The company has outstanding growth potential.”
Crypto Finance AG was founded in summer 2017 and currently employs 26 professionals. Its trading-desk, Crypto Broker AG, is already cash-flow positive. Its first two funds plan to launch early January offshore, and in 1Q/2018, pending FINMA approval, in Switzerland. The institutional crypto storage solution, which offers unprecedented security, will be launched in April 2018.
It was also announced today that Crypto Finance joined the Bitcoin Association of Switzerland as a corporate member.