Swiss-Based Cryptocurrency Exchange Monetum Gains Swiss Regulatory Approval

By Edward Moon | Analysis From Moon | 10 Mar 2021

As from February 2021, the Swiss Zug-based company Fenice Holdings SA – operator of the “Monetum” Cryptocurrency Exchange - is officially a member of VQF, the Swiss Financial Services Standards Association. 

VQF is supervised by FINMA (the Swiss Financial Market Supervisory Authority) to oversee the compliance of its members – including financial intermediaries – with the Swiss Anti-Money Laundering Act (“AMLA”). 

Further to its acceptance as a member as from February, Monetum can operate as a Virtual Assets Services Provider whilst ensuring that its product is fully compliant with Switzerland’s Anti-Money Laundering laws. 

Marco Lavanna, Founder and Chairman of Monetum stated that obtaining the VQF-membership would be a crucial step in their journey to becoming a fully operational company. This milestone gives them a wide range of future business development opportunities so they can continue to build the bridge between fiat and crypto.

What is VQF?

The VQF Self-Regulatory Organisation is officially recognised, regulated and supervised by FINMA, which is why this supervisory system is referred to as (legally and officially) controlled self-regulation.

As the oldest and largest SRO in the parabanking sector, VQF employs specialists with many years of experience from all parts of this sector, carries out periodic audits on its members, trains its members in matters relating to the Swiss Anti-Money Laundering Act (AMLA) and represents their interests regarding amendments to the AMLA.

What is Monetum?

Monetum is an international FinTech Brand under Fenice Holding SA, with its headquarters located in Zug, Switzerland. It is a centralized crypto-fiat-crypto exchange that bridges the gap between fiat and cryptocurrency in order to help out and inspire people about the future of money. 

The Exchange even operates like a traditional exchange, and this, in turn, allows users to use both their crypto, as well as their fiat currencies.

The integration with the fiat partner of Monetum enables its clients to link crypto holding to a fully regulated IBAN. The fiat payment portal which bridges crypto to fiat is an EU-compliant and regulated entity. This means that you have access to settlement accounts, payment accounts, segregated accounts, licensed and fully regulated, instant transfers, and custom IBANs.

Whether you are a merchant or just an individual, Monetum provides high-quality services to all of the clients whilst complying with the highest industry standards as well as regulations. Monetum offers better IBANs (International Bank Account Numbers) by giving you a convenient and reliable method of sending and receiving payments to/from anywhere, almost any day. 

The all-in-one smart exchange includes fiat currencies and cryptocurrencies. You get better trading crypto and/or fiat under an extreme security level that is audited by Kaspersky labs as well as making or receiving instant deposits and withdrawals through their fiat partners.

The goal of Monetum is to help and inspire people to experience the future of payments as well as banking by taking advantage of their in-depth experience in the world of legacy payment as well as successful contributions to pre-bitcoin projects such as eGold.

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Edward Moon
Edward Moon

Crypto trader and analyst.

Analysis From Moon
Analysis From Moon

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