Xapo Now Licensed to Operate from Switzerland
Xapo, the Bitcoin wallet service provider has received Swiss FINMA's conditional approval to operate from the country. Xapo is back in the news again. The leading Bitcoin wallet service at one time has received conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in the country. The receipt of approval was announced by Xapo’s CEO Wences Casares in his recent blog post. According to Cesares, his company has been negotiating with the Swiss authorities for over two years to be recognized as a financial intermediary. He was quoted in the blog post....
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Bitcoin startup Xapo has revealed that it has gained an early ‘conditional approval’ from Switzerland’s financial regulator to operate in the country. Announced by Xapo CEO Wences Casares yesterday, the preliminary approval is reliant on several requirements, including a mandatory membership with the Self-Regulatory Organization (SRO). Xapo is confident that it will meet the requirements to become a member. Xapo chose the town of Zug (also known as Crypto Valley) in Switzerland as the location for its global headquarters. Switzerland’s international neutrality and its regulatory stability....
Switzerland is often thought of as a Bitcoin-friendly country. The Canton of Zug, for example, is sometimes called the crypto capital of the world and many Bitcoin service startups are located there, including Xapo, Shapeshift, Ethereum, Monetas, and Bitcoin Suisse. Companies wanting to do business in Switzerland need an approval by the Swiss Financial....
Xapo has officially relocated its corporate headquarters to Zurich, Switzerland, citing the country's long history of neutrality and stability. The bitcoin services and security firm said the transition was put in motion three months ago at the request of customers, and that now, Xapo's operations in Palo Alto are in the process of being reduced. As part of the transition, Xapo will hire new finance and legal staff in the central European nation while still keeping a small US presence. In interview, Xapo CEO Wences Casares sought to position the move as one that would appeal to customers....
Bitcoin wallet company Xapo announced today that it has received an early nod of approval from a key Swiss regulator. The Switzerland-based company said in a new blog post that it has been given “conditional approval” from the Swiss Financial Market Supervisory Authority (FINMA) to do business in the European country. The approval isn’t final, however, as Xapo said the regulator wants to see it join a self-regulatory organization (SRO), among other steps. Xapo relocated to Switzerland in mid-2015, citing customer privacy concerns at the time as it looked to shift away from its operations....
‘Bitcoin Bank’ Xapo has still not completed its move to Switzerland more than 18 months after announcing the plan. CEO: Swiss is Best. The company, registered in the Cayman Islands but run out of the US, said that regulatory issues were behind the delays, with Swiss authorities unsure as to how to classify Xapo’s activities. “The regulatory environment for Bitcoin in Switzerland is very advanced, perhaps the best in the world,” CEO Wences Casares previously told local news publication Finanz Und Wirtschaft. As 2016 draws to a close, however, a sense of irony is beginning to creep in. In a....