Switzerland grants fintech firms access to interbank payment system
Federal government modified ordinance to create new licensing category on January 1
Swiss authorities granted fintech firms access to an interbank payment system, modifying an ordinance on financial institutions on January 1, the Swiss National Bank said today (January 11).
The federal government added a new licensing category for fintech firms to its ordinance on banks and savings banks in the banking law, granting the Swiss financial market supervisory authority (Finma) the authority to licence fintech companies. The step allows these firms access to Switzerland’s interbank
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