First Regulated Custody and Brokerage Provider for SMR

Crypto Finance Group is the first prudentially regulated custody and brokerage provider supporting SMR, the native token of the Shimmer network.

Following the successful launch of the Shimmer network, we are proud to announce that Crypto Finance Group is to be the first prudentially-regulated custody and brokerage provider to support the trading and storing of the Shimmer network’s native SMR token.

The support of SMR by Crypto Finance Group is the latest development in the long-standing partnership between the Swiss-based storage provider and the IOTA Foundation. Crypto Finance was the first professional IOTA token storage provider worldwide, serving the needs of financial intermediaries and partners across various industries.

Dominik Schiener, Co-Founder of the IOTA Foundation, said “Our relationship with Crypto Finance Group continues to drive innovation and adoption. We welcome their decision to trade and store SMR – the tremendous expansion of projects and token holders since Shimmer’s launch in October shows the market’s confidence in the token and the network’s possibilities. We believe that this integration will enable seamless, regulatory-compliant, and safe access for institutional and private investors alike.”

With the integration of the SMR token, investors from private and institutional sectors will be able to trade and store SMR tokens in a regulatory-compliant manner, as Crypto Finance Group is a FINMA-regulated service provider and part of Deutsche Börse Group.

Trading SMR tokens on Crypto Finance’s trading desk has been enabled since the token launched. Custodial services started on 4th November 2022.

Kasper Luyckx, Head of Product at Crypto Finance AG, said, “At Crypto Finance, we are committed to offering a wide range of products and services to institutional clients to help build a diversified portfolio. We believe in a long-term stable relationship with our partners and clients to build on our combined synergies and knowledge.

We are excited to announce support for SMR, the native token on the Shimmer network. Clients can now trade and store SMR tokens, leveraging Crypto Finance’s institutional-grade infrastructure solution”

With the addition of Shimmer, Crypto Finance now supports more than 20 major protocols in addition to an extensive range of tokens.

About Crypto Finance Group

As part of Deutsche Börse Group, Crypto Finance AG provides institutional and professional investors with a full suite of crypto asset products and services. This includes the first FINMA-regulated crypto asset manager for collective investment schemes, 24/7 crypto brokerage and custody services provided, and storage infrastructure and tokenization solutions, all provided by a FINMA-regulated securities firm.

About Shimmer

Shimmer is the official L1 staging and validation network of the IOTA protocol. It enables developers to build applications and use features that are not yet available on the IOTA mainnet. Like IOTA, Shimmer is built on a UTXO-based parallelized, directed acyclic graph (guaranteeing higher scalability than conventional blockchains). It ensures interoperability and composability of L2 smart contract chains and, with its unique tokenization framework, will become a multi-asset ledger for minting and transfer of native assets without middlemen or crippling gas fees.

$SMR is the native token of the Shimmer network and serves as the network’s economic backbone, facilitating value transactions and interactions within the Shimmer ecosystem. Users of Shimmer use the SMR token to launch new DeFi applications, DEXs, NFTs, DAOs, and other dApps.

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