Anchored Finance AG has announced approval for membership in Switzerland’s VQF self-regulatory organization as it expands institutional cryptocurrency trading, custody and treasury operations.
The company’s November 10 statement describes the membership as bringing its financial-intermediary activities under Swiss anti-money-laundering supervision. VQF is recognized by the Swiss Financial Market Supervisory Authority, FINMA.
FINMA’s framework requires SRO monitoring of affiliated firms, including checks on compliance with the organization’s anti-money-laundering regulations.
Membership Covers Crypto Trading Custody And Treasury Operations
Anchored identifies an over-the-counter desk for cryptocurrency and fiat exchange, segregated wallets for eligible crypto assets and client-directed digital asset activity as the operational scope.
Its treasury offering includes stablecoin and fiat support through banking and custody partners, wallet governance, client-approved transfers, conversions, settlement, reconciliation and reporting.
Chief executive Wenny Cai said the membership would support the controls and governance expected by institutional counterparties. The release does not identify a Swiss banking licence or announce that FINMA directly supervises Anchored as a bank.
FINMA Explains How Self Regulatory Supervision Is Assigned
FINMA’s official SRO guidance explains that affiliated financial intermediaries are supervised by their self-regulatory organization, rather than directly by FINMA under that membership arrangement.
The distinction is important to the approval’s scope. FINMA recognizes and monitors the SRO. The SRO applies its anti-money-laundering rules to affiliated businesses and checks their compliance.
FINMA says those rules define requirements such as identifying contractual partners and beneficial owners and reporting suspected money laundering. SROs establish monitoring controls, including periodic checks, and can sanction members or suspend them.
Recognition of the supervisory organization therefore creates an indirect supervision framework. It should not be described as FINMA approving every financial product offered by a member or guaranteeing customer assets.
Swiss Due Diligence Requirements Apply To Client Transactions
FINMA’s money-laundering supervision overview sets out the duties attached to covered financial activities. Providers must verify the contracting party’s identity and identify the beneficial owner of assets.
Unusual relationships or transactions require clarification of their financial background and purpose. Higher-risk cases, including politically exposed persons and high-risk jurisdictions, require additional investigation and documentation.
The framework also requires internal organizational measures, staff training and checks. Where suspicion meets the applicable threshold, the financial intermediary must report to the Money Laundering Reporting Office Switzerland.
These are specific compliance obligations relevant to an OTC and treasury operation moving assets for clients. They do not establish whether a particular customer transaction has passed review before it occurs.
Approval Announcement Does Not Disclose Customer Asset Totals
Anchored did not disclose customer assets held, trading volume or revenue associated with the membership announcement. The release confirms the company’s stated regulatory milestone and service scope rather than a measured increase in commercial activity.
The importance of transfer screening is visible in Binance’s separate MEXC transaction restrictions. That concerns another jurisdiction and platform, but illustrates why the entity supervising an intermediary and the transactions it accepts must be identified precisely.
Its custody and treasury services also differ from the account-credit routing described in Wirex’s latest deposit integration. Anchored’s announcement concerns its own institutional financial-intermediary activities under the Swiss SRO framework.
