Swiss integrated cryptocurrency exchange Smart Valor has launched trading of four fiat currencies with Bitcoin (BTC) and Ether (ETH).
As a blog post issued July 30 confirmed, Smart Valor, which combines exchange with custody and brokerage features, will continue to add new currencies on a monthly basis.
The company is headquartered in the town of Zug, home of Switzerland’s Crypto Valley Association, and represents the first integrated exchange provider to launch in the country.
“After 18 months of development, we are excited to go live with a core element of the SMART VALOR Platform — the exchange,” CEO Olga Feldmeier commented in the blog post.
“This brings us a huge step forward to our vision of becoming the world’s first security token exchange for alternative investments.”
The initial pairs on offer for BTC and ETH are the Swiss franc, British pound sterling, euro and U.S. dollar. In future, pending receipt of the requisite license from Swiss authorities, Smart Valor will offer security tokens.
“The roadmap for the next 6 months also includes long-term deposit of fiat money, CHF-based stable coin as well as trading and staking of exchange’s native cryptocurrency currency VALOR,” the blog post added.
The launch comes amid rapid progress for other Crypto Valley members.
Finance app Aximetria gained a nationally-recognized Anti-Money Laundering (AML) license this week, while broker Bitcoin Suisse previous revealed it had appliedfor permission to act as a banking and securities dealer.
Smart Valor’s custody service meanwhile saw it partner with France-based Ledger and the U.S.’sBitGo.