Swiss crypto firms say first automated, AML-compliant bitcoin transfer completed

24 august 2020

Three Swiss financial intermediaries say they’ve successfully completed the first automated Bitcoin transaction that meets anti-money laundering (AML) standards. „All players now have the legal certainty they need in order for crypto assets to become an important alternative asset class.”

The virtual asset technology software specialist 21 Analytics has enabled the first automated crypto asset transaction that is compliant with the Anti-Money Laundering Ordinance of the Swiss Financial Market Supervisory Authority FINMA, according to a press release.

The successful bitcoin transaction took place between two financial intermediaries in Switzerland: Crypto Finance AG and Mt Pelerin.

The software just released by Zug-based start-up 21 Analytics AG enables financial intermediaries and other virtual asset service providers (VASPs) to implement the FATF Travel Rule in compliance with FINMA over the OpenVASP Protocol and the Travel Rule Protocol (TRP).

As with standard bank transfers, when making a crypto asset transaction with the software, financial intermediaries now exchange data that identify both the originator and the beneficiary of the transaction. This serves to combat money laundering and terrorist financing.

Clients of Crypto Finance AG and Mt Pelerin, who are both pioneers in the field, „can now carry out crypto asset transactions between financial intermediaries that are quick and legally compliant”, the company said.

By using 21 Analytics’ software and its support of decentralised protocols, both Crypto Finance AG and Mt Pelerin „are demonstrating their support for a global open ecosystem, with the Swiss Crypto Valley at the centre of blockchain innovation”.

21 Analytics CEO, Lucas Betschart, comments: “The speedy implementation of the FATF Travel Rule by financial intermediaries demonstrates the competence with which the Swiss Crypto Ecosystem is taking the lead.”

Crypto Finance AG CEO, Jan Brzezek, explains: “The global adoption of crypto assets requires an international standard as well as the technology and processes to comply with it. We are pleased that this could be implemented in record time. All players now have the legal certainty they need in order for crypto assets to become an important alternative asset class.”

This live demonstration shows once again that crypto assets and regulatory compliance are compatible through practical solutions, which is one of the key focus of our tokenisation technology.” says Arnaud Salomon, the CEO of Mt Pelerin. “As one of the first Swiss VASPs to be travel-rule compliant, we are proud to be part of this demonstration.”

About 21 Analytics

Led by veterans of the crypto industry, 21 Analytics provides crypto asset compliance solutions to financial intermediaries. The company, based in Zug, offers artificial intelligence-supported software for a FINMA compliant implementation of the FATF Travel Rule for the transfer of crypto assets between financial intermediaries

About Crypto Finance Group

The Crypto Finance Group provides institutional and professional investors with products and services that lead in the digital asset space today. The group includes the holding company Crypto Finance AG, based in Switzerland in the Crypto Valley, and three operational subsidiaries: Crypto Fund AG, the first regulated asset manager for crypto assets authorised by FINMA; Crypto Broker AG, active in 24/7 crypto trading; and Crypto Storage AG, providing crypto storage infrastructure and tokenisation solutions.

About Mt Pelerin

Mt Pelerin is a Swiss FinTech company specialized in asset tokenization and digital compliance. It develops solutions to bridge the token economy with traditional finance, and has the ambition to establish a fullreserve tokenized institution providing better access to funding and investment for all.

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”


In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?