SwissBorg, a digital asset investment platform with over $1 billion in assets under management, has obtained approval under the European Union’s Markets in Crypto-Assets (MiCA) regulation from the French Autorité des Marchés Financiers (AMF), the firm announced Friday.
The authorisation permits the platform to offer multiple crypto-asset services, including custody, administration, order execution, transfers, portfolio management, and crypto-asset advisory services.
SwissBorg CEO Cyrus Fazel described the milestone as a defining moment for the company and the European crypto ecosystem, saying regulatory alignment is essential for building trust and enabling long-term innovation.
In the coming months, SwissBorg will migrate its European operations from its existing entity in Estonia to the newly authorised CASP entity in France.
The transition will occur gradually, and users will be informed of the process as it progresses.
SwissBorg has grown rapidly since launching its crypto app in 2021. The company completed a Series A community funding round in 2023, raising $23 million from 16,660 investors.
The company has a history of community-focused initiatives, including a successful 2017 ICO that raised $52 million and a 2018 blockchain referendum allowing users to vote on product development priorities. SwissBorg has also received industry recognition through its participation in the Venture Leaders Fintech programme and awards within the Swiss startup ecosystem.
Source: https://cryptobriefing.com/swissborg-mica-approval-france/
