Smart Valor has secured a $3.25M in investment from Venture Incubator, Tally Capital, and others. The Zug-based startup will provide custody, trading, and brokerage services.
Smart Valor has gone live after securing a significant investment from venture capital groups. The Zug-based startup will operate in both Switzerland and Liechtenstein. At the start, it will only offer trading services for BTC and ETH which can be traded against CFH, EUR, GBP, and USD. However, the custodial service and exchange plans to expand into the security token industry very soon.
Now live, new tokens will be added monthly. The long-term goal is to make Smart Valor the leading security token exchange in Europe, and perhaps the world. The startup is specifically looking for digital securities backed by real-world assets.
“Switzerland needs its own Coinbase,” as Smart Valor investor David Johnston said. Indeed, such a reason is the main driver pushing Smart Valor to gain many high-profile investors.
As Smart Valor CEO Olga Feldmeier told CoinDesk recently:
“Today, Switzerland is the largest global wealth destination, home to a quarter of all global offshore wealth. For over 200 years this place stands for data privacy, safety and security, with an impeccable reputation and high-quality banking services. The same is true for Liechtenstein. But until today, ironically enough, neither Swiss Crypto Valley, nor Liechtenstein, had an exchange offering trading and custody of digital assets. Smart Valor is changing this, giving the privilege of stable, safe-haven jurisdiction not only to the rich, but to all.”
It remains to be seen whether Smart Valor can position itself as a leading security token exchange.
Switzerland has been very open to security tokens in the past few years. Its leading stock exchange SIX even announced this year that it plans to hold its own STO during the latter half of 2019.
Can Smart Valor be the leading security token platform in Europe? Let us know your thoughts in the comments down below.
Image courtesy of Smart Valor.