FinTech License

FinTech License as promotion of innovation
– a licence with relaxed requirements. FINMA is responsible for granting this license.

Exemption Sandbox

The sandbox defined allows for public deposits to be accepted without a license up to a limit of CHF 1 million, provided that they are not invested and do not bear interest, even if such deposits come from more than 20 depositors.

Public deposits

“Public” = third party deposits are considered public unless exception applies Not considered as public deposits are those from: Banks Related parties: qualified shareholders (>10% voting rights or capital) and affiliated entities (e.g. parent, subsidiary, sister companies) Institutional investors: pension funds, municipalities, corporations Employees (active and retired) Associations, foundations, cooperatives: deposit for minimum 6 months; … Continued

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