Swiss Digital Wealth Firm Gets Regulatory Clearance - Report

Tom Burroughes

24 July 2017

Digital wealth management start-up reportedly been given regulatory clearance by Swiss authorites, a breakthrough for a Swiss fintech firm.

The Commercial Registry of the Canton of Zug confirmed Flynt's registration as a bank and said the information would be published in two to three working days, Reuters reported.

Founded by the chief executive of derivatives specialist Leonteq, Flynt aims to offer wealthy clients a platform from which to manage their asset portfolios, from bank accounts to real estate, the report. said.

This publication checked the Flynt website and was unable to find out whether the organisation had received permission, or indeed, could see what the business actually did.

"The banking license allows Flynt the required independence to approach wealth management in new ways and using innovative technologies, thus enabling private and institutional clients, such as entrepreneurs and family offices, to independently control their total wealth at all times," the organisation is reported to have told Reuters.