ZUG, Switzerland, Aug. 18, 2022 /PRNewswire/ -- Arf, the global settlement banking platform for licensed money service businesses, announces that it has been granted the approval of the Financial Services Standard Association (VQF) through Arf's entity in Zug, Switzerland.
Arf's VQF membership assures its compliance with the Swiss Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) acts, providing global regulatory acknowledgment of its reliability and underlining its position as the empowering partner of licensed money service businesses (MSBs) worldwide.
VQF is one of the world's oldest and most selective cross-industry Self-Regulatory Organizations (SRO) and is officially authorized by the Federal Financial Market Supervisory Authority (FINMA). It is recognized as Switzerland's financial services watchdog, supervising its members with regard to AML and CTF regulations.
CEO Ali Erhat Nalbant said: "We are thrilled to have received the VQF license approving our strong place in the global finance ecosystem. As we are scaling our business globally, the support of Swiss regulators enables us to provide our Web3 cross-border treasury management and working capital credit lines to a wider range of MSBs in need. This way, we'll be elevating the ecosystem together more effectively."
Rajpal Khangura, Chief Compliance Officer, commented: "As one of the world's oldest and most selective cross-industry SROs, VQF's approval affirms our commitment to using blockchain technology and digital assets in full compliance with regulatory requirements all over the world. We are honored to become a member."
With the regulatory stamp of approval from Switzerland, Arf will continue expanding its products and solutions in line with its position as the trusted partner of licensed MSBs and financial institutions.
Arf recently launched Arf Credit Line to provide MSBs instant access to transactional working capital credit lines, allowing any corridor to be post-funded in real-time. By leveraging stablecoins and allowing instant settlements across multiple channels, including bank accounts, e-wallets, and cash pickup points, the company enables MSBs to build API-based cross-border financial operations and treasury management. Arf was also listed in Sifted's "13 European Web3 Startups to Watch" list this year, which drew from the insights of investors across Europe.
About Arf
Arf is a global settlement banking platform, providing real-time fiat-to-fiat cross-border settlements, stablecoin-based credit lines, and global treasury management for financial institutions and licensed money service businesses (MSBs).
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SOURCE Arf
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