Switzerland issues first license to crypto exchange

Switzerland's FINMA for the first time grants licensure to a cryptocurrency exchange
20 October 2017   1805

For the first time, the Financial Market Supervisory Authority (FINMA), a regulatory arm of the Swiss government, has licensed a crypto exchange to operate as a Directly Subordinated Financial Intermediary.

In the official press release, the exchang called "Payment21" describes the licensure as the result of “over one year of substantial effort.” 

We are committed to meeting the legal requirements of the Swiss financial marketplace.  Our handling of compliance issues enriches the digital currency ecosystem, and demonstrates that Swiss regulators embrace competitiveness in financial services, and truly encourage Fintech innovation in the digital era.
 

Bernhard Kaufmann 
Managing Director of the exchange

The man also highlights that "government licensing is crucial when establishing a payments business". Indeed, an official approval in a leading European financial center like Switzerland is a key differentiator in the competitive landscape.

Though this is a first for FINMA, the body has recently made other forays into the crypto space.
 

Bernhard Kaufmann 
Managing Director of the exchange

Payment21 is going tp expand into other cryptocurrency sectors.  For now, it also processes Bitcoin transactions on behalf of ecommerce vendors, enabling them to accept the cryptocurrency as payment for goods and services. 

Lightning Desktop App to be Launched in BTC Mainnet

The application, which is based on the lightweight Neutrino client, is available for the macOS, Windows and Linux, however, it's oriented fro test environment
24 April 2019   148

Lightning Labs, a leading developer of solutions for the Lightning Network, announced the launch of its desktop wallet in the main Bitcoin network. An application that was previously tested in a test network is available in the alpha version.

The application, which is based on the lightweight Neutrino client, is available for the operating systems macOS, Windows and Linux, however, as the developers emphasize, is still oriented primarily to the test environment. At the same time, more advanced users can also experiment with the wallet interface and get access to their funds.

Lightning App Desktop Version Screenshot
Lightning App Desktop Version Screenshot

The Neutrino client allows non-custodial Lightning wallets to verify Bitcoin transactions without the need to synchronize with the full version of the blockchain.

The new release includes such a function as displaying a single balance, which will allow users to see the cumulative number of coins both in the network base and in the payment channels by percentage.