VASP

High hopes for crypto’s ability to revolutionise the financial world were dealt a harsh reality check with the collapse of the FTX cryptocurrency exchange last year. With Luxembourg having early on placed a bet on crypto, some have suggested it could suffer reputational damage. New regulation including the European Union’s MiCA regulation however may offer a way to do crypto safely, Thursday’s debate at Swissquote’s Luxembourg event heard.

Swissquote Bank Europe has become the first Luxembourg bank to be able to offer depositary services to digital asset investment funds, having obtained CSSF regulatory approval to act as a depositary bank for Luxembourg-domiciled funds along with its status as Vasp, or regulated Virtual ASset Provider.