On December 10, 2019, it is announced that Switzerland Cryptocurrency exchange firm, Amun AG, gets a license from the Swedish Financial Supervisory Authority (SFSA). It can provide Bitcoin (BTC) as well as altcoins exchange-traded products (ETPs) to the European Union (EU) investors.
It offers a safe and secure platform for investors to invest in Bitcoin and digital currencies related to Distributed Ledger Technology (DLT). Now, Amun can avail its services to the investors in EU member states. According to the approval by the Swedish Financial Supervisory Authority (SFSA), the EU retail investors with access to Switzerland’s SIX Stock Exchange and Germany’s Boerse Stuttgart can trade its ETPs.
The CEO of Amun, Hany Rashwan, said that the approval by SFSA is a big opportunity for the company to take benefit of the old EU securities legislation. It will help an entity to operate the entire EU by the member state’s license. He continued that this license provides extensive access to transact and sell directly to the retail investors in the market of Europe.
Currently, the crypto exchange-traded products of Amun are only listed in the SIX Stock Exchange and Boerse Stuttgart. By 2020, Amun needs to take approval from EU authorities to apply for the listings on different regulated exchanges.
In March 2019, Amun raised approximately $4 million from many investors, including the founder of Boost VC, Adam Draper, the founder of ETFS Capital, Graham Tuckwell, and many more. In October 2019, Amun combined with Binance crypto exchange to declare an ETP Binance Coin (BNB).