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Bitfinex Intends To Move To Switzerland

Mar 29, 2018 Posted /  766 Views

Bitfinex Intends To Move To Switzerland

The world’s fifth largest cryptocurrency exchange Bitfinex plans to move to Zug, Switzerland. According to sources, Bitfinex is presently having discussions with authorities in Switzerland. The leadership of Bitfinex has apparently met the State Secretariat for International Finance and the Federal Councilor Johann Schneider-Ammann, who heads the Economic Department of Switzerland.


“We are looking for a new home for Bitfinex and the parent company iFinex, where we want to merge operations previously spread over several locations,” said the Bitfinex CEO, Jean-Louis van der Velde.


The CEO of Bitfinex portrays it as a new opportunity and hopes that this move will help the business to be more transparent. “We want to be the most transparent of all exchanges and meet the requirements of the Swiss regulator”, he said.


This move will not only benefit Bitfinex but also Switzerland as it might attract more new investors to blockchain technology.


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