SMART VALOR, a fully compliant marketplace for tokenized alternative assets and security tokens, today announced that it has launched a project to become the first digital assets platform enabling a Swiss franc stablecoin through partnerships with banks and e-money institutions.
In this initiative, SMART VALOR acts as a technology provider delivering the basic infrastructure to local e-money institutions and banks who hold required licenses for the issuance of the tokenized Swiss franc; called CHFt. Additionally, the company itself is planning to issue CHFt, leveraging its regulatory approach. SMART VALOR has established a subsidiary in neighboring Liechtenstein and has applied for a banking license to the financial supervisory authority in Liechtenstein (FMA).
SMART VALOR to operate as a currency exchange out of Liechtenstein
SMART Valor also confirmed today it received confirmation from FMA, Liechtenstein’s Financial Supervisory Authority, to operate the platform for utility and payment tokens out of Lichtenstein. For this purpose, SMART VALOR announces the establishment of a Liechtenstein subsidiary. This builds on SMART VALOR’s approval to operate as a financial intermediary in Switzerland and is a prerequisite for launching its full exchange platform for cryptocurrencies and other non-security digital assets.
To enable the full range of offerings including security tokens, SMART VALOR has applied for a banking license for its Liechtenstein subsidiary, benefiting from simplifications introduced to the banking license legislation earlier. It expects to launch fully in Liechtenstein on receipt of the license.
Olga Feldmeier, CEO of SMART VALOR:
“By building a network of independent issuers of the Swiss franc stablecoin, we ensure that failure of a single issuer does not impose the collapse of the coin, as the CHFt will be accepted by any institution of the network. This massively reduces the counterparty risk connected to a possible failure of a single banking institution.”
SMART VALOR is currently in partnership discussions with banks, cryptocurrency exchanges and one of the big four audit firms. On the technical side, it leverages its membership in the Enterprise Ethereum Alliance (EEA). The company said it will collaborate with Adhara to align on standards and promote the interoperability of its CHFt solution. Adhara is also a member of the EEA and is specialized in delivering electronic money Distributed Ledger Technology (DLT) solutions for banks.
For banks, the partnership with SMART VALOR will provide them with an infrastructure through which they can become involved in money flows between crypto and fiat world, working together with legitimate players that follow the same high standards of KYC/AML. Customers of the banks will be able to open crypto wallets on the SMART VALOR platform benefiting from the instant credit of CHFt equivalent while the real Swiss franc stays with the issuing banks as collateral. This will give the clients of banks instant access to global crypto exchanges around the world.