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Crypto Finance, a virtual currency investment firm, today announced it closed a €13 million ($15.40 million) capital raise to fund an application for a Swiss banking license.

The company said it would use these funds to file for the license with Swiss Financial Market Supervisory Authority (FINMA), but did not specify a timeline.

Based in Switzerland, Crypto Finance, which was established this June, provides asset management, brokerage and storage facilities to the crypto-investing community.

In a statement to Verdict, Crypto Finance CEO Jan Brzezek said of the process: “It is of critical importance to prepare this step early on, to be strategically positioned to offer a full range of financial services to crypto investors.”

Read more at Verdict and Finextra.

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