Swedish crypto exchange Safello aims to become the first Swedish crypto exchange licensed under the new European framework MiCA. But the company now also has ambitions to expand outside Sweden.
- We stand ready to meet increased demand for crypto investments and are positioning ourselves for expansion into more markets in 2025,” said Emelie Moritz, CEO of Safello.
In connection with the presentation of her quarterly report for the third quarter, Emelie Moritz has also written a shareholder letter in which she goes into more detail about the international plans.The strategy is to take advantage of the historical changes that the crypto industry in Europe is undergoing, in the form of the Markets in Crypto Assets Regulation (MiCA).
Here you can also read a separate article on Safellos quarterly report, which was presented last Friday.
Moritz also participated earlier this week in a panel debate during the launch of Bitcoin Sweden. Pictured from left: Pehr GranFalk (Secretary General Blockchain Sweden), Henrik Hjelte (CEO ChromaWay), Emelie Moritz (CEO Safello) and Oliver Rosengren (Member of Parliament).
"When Safello receives approval from the Swedish Financial Supervisory Authority to operate as a Crypto Asset Service Provider (CASP) under MiCA, the trust in Safello as a company will potentially increase, enabling collaborations with traditional players andhelping to reduce competition. The current barriers to expanding to multiple jurisdictions in parallel will be lessened, as the licence can be passported to all Member States of the European Union (EU)", writes Moritz, who continues:
"We are not only working to become the first crypto platform in Sweden to be authorized as a CASP under MiCA, but we are also currently rebuilding our product with the ambition to make it internationally competitive, increase the number of active users, improve customer loyalty and reduce customer attrition. A significantly improved product and authorization under MiCA provide a solid foundation for expansion into new markets.
Until now, the Nordic crypto market has largely been divided into national markets. With MiCA, this could change. The Norwegian crypto exchange Firi already entered Denmark two years ago and has plans to establish itself in Sweden. The Finnish crypto exchange Kvarn has also established presence in Denmark, which has no crypto exchanges of its own. Swedish crypto exchange Trijo, through its parent company Greenmarc, has also announced plans to take over the Finnish crypto exchange Northcrypto. The Norwegian crypto broker K33 also has a Scandinavian visibility, as its parent company, Arcario, is listed in Sweden.
A survey conducted by K33 and EY shows that many crypto investors in the Nordic countries use international crypto exchanges such as Binance and Coinbase. Binance has its Nordic headquarters in Sweden, while Coinbase organizes its Nordic involvement through a combined Nordic-Benelux management. The Austrian company Bitpanda received a Norwegian crypto license a year ago, and recently it also became known that the global crypto exchange Bybit has entered as a sponsor of the Nordic Blockchain Association.
Swedish crypto exchange Safello aims to become the first Swedish crypto exchange licensed under the new European framework MiCA. But the company now also has ambitions to expand outside Sweden.
- We stand ready to meet increased demand for crypto investments and are positioning ourselves for expansion into more markets in 2025,” said Emelie Moritz, CEO of Safello.
In connection with the presentation of her quarterly report for the third quarter, Emelie Moritz has also written a shareholder letter in which she goes into more detail about the international plans.The strategy is to take advantage of the historical changes that the crypto industry in Europe is undergoing, in the form of the Markets in Crypto Assets Regulation (MiCA).
Here you can also read a separate article on Safellos quarterly report, which was presented last Friday.
Moritz also participated earlier this week in a panel debate during the launch of Bitcoin Sweden. Pictured from left: Pehr GranFalk (Secretary General Blockchain Sweden), Henrik Hjelte (CEO ChromaWay), Emelie Moritz (CEO Safello) and Oliver Rosengren (Member of Parliament).
"When Safello receives approval from the Swedish Financial Supervisory Authority to operate as a Crypto Asset Service Provider (CASP) under MiCA, the trust in Safello as a company will potentially increase, enabling collaborations with traditional players andhelping to reduce competition. The current barriers to expanding to multiple jurisdictions in parallel will be lessened, as the licence can be passported to all Member States of the European Union (EU)", writes Moritz, who continues:
"We are not only working to become the first crypto platform in Sweden to be authorized as a CASP under MiCA, but we are also currently rebuilding our product with the ambition to make it internationally competitive, increase the number of active users, improve customer loyalty and reduce customer attrition. A significantly improved product and authorization under MiCA provide a solid foundation for expansion into new markets.
Until now, the Nordic crypto market has largely been divided into national markets. With MiCA, this could change. The Norwegian crypto exchange Firi already entered Denmark two years ago and has plans to establish itself in Sweden. The Finnish crypto exchange Kvarn has also established presence in Denmark, which has no crypto exchanges of its own. Swedish crypto exchange Trijo, through its parent company Greenmarc, has also announced plans to take over the Finnish crypto exchange Northcrypto. The Norwegian crypto broker K33 also has a Scandinavian visibility, as its parent company, Arcario, is listed in Sweden.
A survey conducted by K33 and EY shows that many crypto investors in the Nordic countries use international crypto exchanges such as Binance and Coinbase. Binance has its Nordic headquarters in Sweden, while Coinbase organizes its Nordic involvement through a combined Nordic-Benelux management. The Austrian company Bitpanda received a Norwegian crypto license a year ago, and recently it also became known that the global crypto exchange Bybit has entered as a sponsor of the Nordic Blockchain Association.
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