The exchange SwissBorg becomes the first Swiss company to obtain a PSAN registration with the Autorité des marchés financiers (AMF). It will now be able to conduct advertising campaigns on French soil.
SwissBorg joins the ranks of PSAN
This Tuesday, the cryptocurrency exchange and stacking platform SwissBorg obtained from the Autorité des marchés financiers (AMF), its registration as a service provider on digital assets (PSAN).
This is important news for this ecosystem player. It allows it to operate in France in full compliance with the regulation, as well as to be able to offer advertising campaigns in the country.
Indeed, if the French are free to use the platform they want, even if it is not PSAN, it will have to be registered if it wants to specifically target our market in its marketing.
In addition to Swissborg, two other companies obtained their PSAN registration this Tuesday: Mon Livret C and Klub.ki both based in France.
A first for a Swiss platform
This is the first time that a Swiss platform has obtained this title from the AMF. However, it is not the first foreign company, Bitpanda, from Austria and LiteBit, from the Netherlands, also both have their registration.
In total, there are 36 names on the AMF list at the time of writing.
Justine Lamberger, regulatory affairs officer at Swissborg stressed the importance of cooperating with regulators:
“At SwissBorg, we have always paid close attention to regulations, licensing and security measures. We believe that any financial organization worth its salt has a duty to do so, whether it is operating in the digital asset space or in traditional finance.”
While in the context of MiCA regulation, it is likely that the European Union will eventually take inspiration from this French status and extend it to its entire territory, the platform is taking the lead in order to get into the good graces of regulators. Although Switzerland is not concerned for its own territory.
This is an interesting strategic choice on the part of the Swiss exchange, which can now target its communication in a country in which 30% of the population would consider getting into cryptocurrencies.
