The Aarau-based startup has received a license from the Swiss Financial Market Supervisory Authority (Finma) to operate as a securities firm with account-keeping capabilities. This marks an important milestone for the company, according to a statement released on Thursday.

«Our clients will no longer need an external custodian bank in the future,» said Matthias Bryner, founder and CEO. In addition to acting as an asset manager, Findependent will now also operate as an account-keeping institution. However, the collaboration with Hypothekarbank Lenzburg as a «long-standing and reliable partner» will continue in the background, the company added.

25'000 Investors

The transition will take place gradually. New investors will receive their accounts and custody services directly from Findependent with immediate effect. Existing client relationships will be transferred over the coming months.

Since its market launch in February 2021, the company says it has demonstrated that digital asset management can be simple, cost-efficient and accessible to everyone. The app has already been used by more than 25'000 investors.

As an account-keeping securities firm, Findependent is subject to the same requirements regarding capital, liquidity and cyber security as a bank. Cash balances (1 percent of the invested amount) will continue to be protected by deposit insurance. The ETF investments remain segregated assets and are legally owned solely by the clients.

«This license is the key for us to develop Findependent even faster and more flexibly,» the CEO emphasized. Transactions such as deposits and withdrawals will in future be displayed much more quickly in the app.

The new license also creates additional growth opportunities. For the second half of the year, Findependent is planning the launch of pillar 3a investment solutions.