Prominent bitcoin wallet provider Xapo has been granted conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in Switzerland. The move is contingent on several factors, including Xapo's becoming a member of a self-regulatory organisation. According to Reuters, the decision was made by FINMA after it received an application for permission to open a subsidiary office in Switzerland and also met with resistance from some members of Switzerland's financial sector.
Prominent bitcoin wallet provider Xapo has been granted conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in Switzerland. The move is contingent on several factors, including Xapo's becoming a member of a self-regulatory organisation. In a blog post, Xapo said: "FINMA has positioned Switzerland as a hub for fintech innovation and ensured Switzerland’s primacy in global financial services for decades to come."