Bitmex wants to start a crypto brokerage service in Switzerland – and why cryptos are becoming socially acceptable in banks

Bitmex is one of the older crypto trading platforms that has been on the market since 2014 – now the broker wants to occupy territory throughout Europe with a subsidiary in Switzerland.

There is no acute shortage of freely available crypto trading platforms – neither in Switzerland nor internationally. What motivates Bitmex Group to start in Switzerland for all of Europe, the company reasons with it “ambitious goal to create a one-stop shop for access to crypto products”.

Bitmex Link is Bitmex Group’s innovative 24/7 brokerage service for trading digital assets. The platform aims to target traders, professional traders and institutions with a full range of services. The company plans to cover everything in one place with spot, structured products and over-the-counter trading and offer transparent, easy and secure access to crypto markets.

Why Bitmex is installing its first European office in Zurich

Bitmex opened its first European office in Zurich in early 2022. Ivo Sauter, CEO of Bitmex Link and head of the Swiss Bitmex office, justifies the choice of location with the following words:

«Switzerland has a recognized status as a regional hotspot for great talent, with a growing blockchain ecosystem and a progressive institutional framework. This made them the logical choice for our first office in Europe.”

Also Bitmex CEO Alexander Hoeptner sees investments in Switzerland as crucial to expanding the group’s service offering and increasing its global reach.

The company wants to become more active in this country, because in the consideration of Bitmex “Switzerland has developed into an important hub in the European crypto landscape”. Apparently, Switzerland is a good starting point for conquering the rest of Europe.

Trading under the sail of a self-regulatory organisation

Bitmex reports that BXM Link AG has received membership confirmation from the Association for Quality Assurance in Financial Services (VQF), a Swiss self-regulatory organization (SRO) officially recognized by the Swiss Financial Market Supervisory Authority (FINMA). A few final routine checks would still be pending, but they should be completed shortly.

According to Bitmex, the awarded VQF membership confirms that the company operates in accordance with Swiss anti-money laundering requirements. This is also an important step because Bitmex is seeking approval in major jurisdictions around the world.

According to the company, this membership marks the start of Bitmex Link’s activities in Europe.

The company does not announce the start date of the Bitmex Link platform, the website is already online with the first information and promises “coming soon”.

Cryptos and digital assets are becoming socially acceptable

Apparently, Switzerland is a good starting point for becoming active in the surrounding Europe. The new Bitmex platform is not aimed at small investors, but at a professional clientele, including companies, family offices and asset managers.

Another indicator that the cards are being reshuffled and also redistributed within digital assets. Investment companies such as Blackrock and an increasing number of established banks have given visible signs of this in recent months. The initial aversion and rejection of cryptos has given way to interest and concrete offers – also and especially from actors from the classic financial sectors. For the simple reason that until now it has not been possible to fulfill the investment wishes of institutions, companies and other professionals.

Therefore, cryptos and digital assets are slowly becoming socially acceptable. Banks and other financial partners would rather invest and manage their clients’ assets than watch large amounts of client funds flow towards crypto-FinTechs and specialized trading platforms. This outflow can be stopped with your own offers, at least in part, but not without all offers.

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