According to the report, the firm has started talking with regulators and petitioned for a capital markets services licence, which will allow the firm to offer asset-management business as a first step into financial services, said co-founders Mathias Imbach and Gerald Goh in a phone interview on Tuesday.
Additionally, the company will be able to issue, store, trade and manage the digital assets Bitcoin and Ethereum, and convert fiat currencies such as Swiss francs, Singapore and US dollars and euros into the two cryptocurrencies once it fulfills the final criteria to become a Swiss bank.