The Swiss-based cryptocurrency exchange joins Financial Services Standards Association.
Zug, Switzerland, February 2021 – Zug-headquartered company Fenice Holding SA (Monetum) is now a member of the Swiss Financial Services Standards Association, or VQF. VQF is the oldest and largest cross-industry self-regulatory organization in the parabanking sector and meets the standards established by the Swiss Financial Market Supervisory Authority.
Officially authorized 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 regulations.
Having been accepted as a member, Monetum is now able to operate as a virtual assets services provider and to confirm that its product is fully compliant with Switzerland AML laws, which are crafted to stop cybercriminals from laundering fiat and cryptocurrencies via trading platforms and online digital wallets.
“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
Monetum is 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.
Monetum 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. The 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 offers a full range of compliance services to financial intermediaries in the para-banking sector in Switzerland. As a center 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, its role as an industry organization for independent asset managers 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. For more information, please visit the official VQF website: https://www.vqf.ch/en/.
Monetum is an international fintech brand under Fenice Holding SA, with its headquarters located in Zug, Switzerland.
Monetum allows you to experience the best of both worlds by bridging fiat and cryptocurrency and inspiring people about the future of money. At the core of Monetum’s solution is a centralized crypto-fiat-crypto exchange and gateway. The exchange also operates like a traditional exchange, allowing users to trade their crypto and fiat currencies. The integration with its fiat partner will enable clients to link their crypto holding to a fully regulated IBAN. The fiat payment /gateway portal bridging crypto to fiat is an EU-compliant and regulated entity.
The in-depth experience of Marco Lavanna, founder and chairman of Monetum, in the world of legacy payments and his successful contribution to pre-Bitcoin projects like eGold in the late 1990s led him to create Monetum, which enables and arms businesses and individuals with capabilities, resources and solutions that contribute to their success whether it be sending money, running a marketplace, accepting payments, investing in crypto or simply trading.
Join Monetum’s new economy for better payments, better trading, better money.
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