After almost two years of negotiations and product restructuring, Xapo, "the Fort Knox of bitcoin" has achieved conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in Switzerland. Although subject to conditions, the approval marks the beginning of a new era of banking in Switzerland, offering a new type of digital financial intermediary to serve people, to compete with traditional fiat banks, and to create a less monopolistic, more democratized financial environment...
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