BitMEX, a peer-to-peer crypto trading platform, announced the expansion of its footprint to Switzerland.

Switzerland will be home to BitMEX Link, a brokerage service for the adoption and trading of digital assets.

The company also intends to apply for a license from the Swiss Financial Market Supervisory Authority (FINMA) once it qualifies.

After completing entity incorporation, BitMEX will open an office in Zurich and/or Zug in January 2022 where an initial workforce of five employees will grow as the business expands and invests in Switzerland-based talent.

The firm will be developing new business lines and functions under the BitMEX brand, including capabilities for Spot, Brokerage, Custody, Information Products, and an Academy to deepen knowledge of digital assets and crypto trading.

BitMEX added that Switzerland’s status as a regional hotspot for great talent with a growing blockchain ecosystem and an advanced institutional framework made it a natural choice for its first European presence.

Alexander Höptner, CEO of BitMEX said,

“Switzerland is building an impressive crypto ecosystem with all the hallmarks of an attractive destination for companies like ours that are growing quickly and innovating responsibly.

 

We see investment in Switzerland as crucial to fulfilling our ‘Beyond Derivatives’ strategy, which will broaden the services we offer and expand our global impact.”

Featured image: Edited from Unsplash