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Keyrock Obtains Regulatory Approval in Switzerland

Keyrock Obtains Regulatory Approval in Switzerland

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The Brussels-based crypto firm Keyrock secured regulatory approval from the Swiss Financial Services Standards Association. It plans to expand its fiat on/off-ramp services through its over-the-counter trading desk. 

Cryptocurrency market-making firm Keyrock announced it received regulatory approval from the Swiss Financial Services Standards Association (VQF). In a press release, the firm explained that its membership with the VQF demonstrates its dedication to Swiss Anti-Money Laundering Act regulations. 

Dedicated to Regulatory Compliance

The firm obtained its membership following a comprehensive review of its internal controls, processes and procedures.

Kevin de Patoul, Keyrock CEO, commented:

“Securing the VQF membership reinforces Keyrock’s stance on upholding rigorous regulatory standards within the crypto space. As the landscape evolves, our focus remains steadfast on ensuring both compliance and trust in our services.” 

General Counsel for Keyrock, Reza Ghadiri-Zare, added:

“As Keyrock continues to expand its activities into new jurisdictions, this milestone confirms our commitment to engage with regulatory authorities globally to align our operations with the highest level of compliance requirements.” 

OTC Desk Expands Its Fiat On-Ramp/Off-Ramp Services

With its Swiss regulatory approval, Keyrock now operates in over 80 exchanges across over 400 markets. In an effort to continue its growth, the firm’s over-the-counter (OTC) desk expanded its fiat on-ramp/off-ramp services to support additional currencies, including GBP and AUD, alongside the USD and EURO currencies.

The company explained its expansions contribute to improving its position within the Web3 space and maintain its dedication to delivering lightning-fast settlements 24/7 on a grander scale.  

De Patoul noted:

“As the complexity and diversity of digital financial products increase, we recognize the necessity to adapt and innovate. Hence, we are steadfast in our commitment to offering a specialized OTC solution enriched with a variety of currency options, reflecting our essential belief in flow diversity. This strategic approach propels us towards our goal of global excellence.” 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

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