BXM Link AG, part of BitMEX Group, receives the membership confirmation of the Association for Quality Assurance of Financial Services (VQF) in Switzerland. Due to the favorable conditions in Switzerland, this will be the first location of the subsidiary in Europe.
Reaching this milestone confirms that BXM Link AG operates in compliance with all anti-money laundering requirements in Switzerland. The approval will allow the crypto exchange's brokerage division to offer its services in Switzerland. The company opened its first European office in Zurich in January 2022 with the goal of establishing and growing a team in one of Europe's crypto hotspots.
Confirmation by VQF
The Association for Quality Assurance of Financial Services (VQF) is a Swiss self-regulatory organization (SRO) officially recognized by the Swiss Financial Market Supervisory Authority (FINMA). The VQF membership granted to BXM Link AG will be fully completed after some final routine checks. Going forward, the company believes this to represent an important step as the crypto exchange seeks accreditation in jurisdictions around the world. In addition, this should mark the launch of BitMEX Link's activities in the European region.
"The VQF membership will allow us to further develop the BitMEX Link offering in line with Swiss anti-money laundering laws and focus on unlocking further market opportunities in the coming months." - Ivo Sauter, CEO BitMEX Link & Head of Swiss BitMEX Division
Crypto-friendly Switzerland as European business location
BitMEX Link is BitMEX Group's 24/7 brokerage service for trading digital assets. The platform should aim to target traders, professional traders and institutions with a range of services. According to the firm, becoming a member of the VQF is an important step in this journey and a milestone in its efforts to become a regulated company in key jurisdictions around the world.
"Switzerland is building an impressive crypto ecosystem that has all the hallmarks of an attractive location for companies like ours to grow responsibly and innovate. We see investments in Switzerland as critical to expanding our service offering and growing our global footprint." - Alexander Höptner, CEO of BitMEX and founder of BXM Operations
BitMEX Group claims to be pursuing the ambitious goal of creating a one-stop store for access to crypto products. The VQF membership is supposed to strengthen the company's activities in Switzerland, which has become an important hub in the European crypto landscape.
