As LeapRate reports here, Switzerland accepts Bitcoin with open arms as SBEX, an acronym for Swiss Bitcoin Exchange, is launched.
Nationwide ATMs will follow, and the crypto-currency is set to become a mainstay of the Swiss financial sector.
Alexis Roussel, founder and CEO of SBEX, stated last week that the approval of SBEX by Switzerland’s financial regulator “opens up fantastic opportunities for crypto-currencies in Switzerland, creating a clearly regulated environment in this area.”
One of the most advantageous and potentially market-changing factors relating to FINRA’s ruling is that Bitcoin has now become recognized as a means of payment in Switzerland.
“The two key points in this authorization from FINMA are that Bitcoin is now treated as a means of payment in Switzerland, and a deposit in Bitcoins is considered a bank deposit, “said Alexis Roussel.
In addition to the web platform, it will be possible to exchange Bitcoin currency everywhere in Switzerland via ATM terminals. In order to facilitate this, SBEX has partnered with Canadian firm BitAccess, a prominent Bitcoin ATM provider to deploy an extensive ATM network throughout Switzerland.
Its machines are used to exchange instant cash against an electronic wallet containing the equivalent in Bitcoins, or perform the reverse operation to convert Bitcoins into local tender.