Monetum Gains Swiss Regulatory Approval
We are now a member of the Swiss Financial Services Standards Association (VQF). VQF itself is the largest cross-industry Self-Regulatory Organization (SRO) with the longest history that meets the standards established by the Swiss Financial Market Supervisory Authority (FINMA).
Officially authorised by FINMA, VQF is entrusted to oversee the compliance of financial intermediaries in Switzerland. This organization is primarily responsible for the supervision of Anti-Money-Laundering (AML) regulations.
Our acceptance as a member enables us to operate as a Virtual Assets Services Provider and to confirm that our product is fully compliant with Switzerland’s anti-money laundering laws, which are crafted to stop cyber criminals from laundering fiat and cryptocurrencies via trading platforms and online digital wallets.
We are a firm believer that compliance with regulation is one of the main conditions for the continued development and maturity of the digital cryptocurrency finance market. Monetum is deeply committed to a safe and reliable financial service that ensures the level of customer protection while meeting the highest financial security requirements.
“The Swiss VQF membership is of vital importance to Monetum and our customers, partners, investors, and the industry at large. This is a crucial step in our journey to becoming a fully operational company. This Swiss license gives us a wide range of future business development so we can continue to build the bridge between fiat and crypto.” – Marco Lavanna, Founder and Chairman of Monetum
Our customers are required to go through a rigorous onboarding and KYC verification process, after which they can easily trade fiat and crypto on the exchange platform. These stringent requirements will further reinforce Monetum as a trusted brand and partner in the market. Our exchange platform allows customers to avail of a fully licensed and regulated IBAN account through a fiat partner to make any fiat-to-crypto and crypto-to-fiat transaction more seamless.
The Financial Services Standards Association (VQF) offers a full range of compliance services to financial intermediaries in the para banking sector in Switzerland. As a centre of competence, the Association provides numerous supervisory, inspection, audit, training and advisory services to its members.
In addition to its capacity as a Self-Regulatory Organization (SRO), its role as an Industry Organization for independent Asset Managers (BOVV) according to the Collective Investment Schemes Act and its auditing services, VQF provides further services concerning legal consulting for financial intermediaries and other persons trading in goods pursuant to the Anti-Money Laundering Act (AMLA). For more information, please visit the official VQF website: https://www.vqf.ch/en/