Aximetria, a crypto-centric personal finance app firm stationed in the Swiss canton of Zug, has been awarded the Swiss Financial Services Standards Association (VQF) licence, officially recognized by Switzerland’s Financial Market Supervisory Authority, FINMA.

FINMA is primarily responsible for the supervision of anti-money-laundering (AML) regulations. With a Swiss financial intermediary licence, Aximetria now believes that its product complies fully with Switzerland's anti-money laundering laws, which were crafted to stop cyber criminals from washing fiat and crypto-currencies alike on trading platforms and in online digital wallets.

Having evolved from an idea to a product in a mere 11 months, Aximetria is a fast-growing phenomenon. It can now start operating as a crypto financial intermediary under the Swiss AML Act, with the licence also streamlining the process of welcoming new customers into its ecosystem. It wants to provide Swiss-standard financial services to consumers in Europe, Africa, Asia and Latin America.

Alexey Ermakov, the founder and CEO of Aximetria, said: “We started with the sandbox model, then we went through all the options for applying the requirements, which were triggers for obtaining a banking licence. Finally, we found the business model that most accurately met the project’s requisites: compliance with the AML requirements, the possibility of remote onboarding from anywhere in the world, and other benefits.”

Aximetria worked closely with Pestalozzi Attorneys at Law, who provided legal and regulatory advice on the company’s business model, including licensing requirements, money laundering and other things, and helped set up its entire legal structure. This helped it become a member of the Swiss self-regulatory organisation VQF.

Aximetria is a Swiss-based crypto-centric mobile finance service. It provides multicurrency e-accounts for traditional currencies and cryptocurrencies, instant crypto exchange and global P2P money transfers.