What makes a crypto to fiat provider regulated in Switzerland?

It must be a financial intermediary under the Swiss Anti-Money Laundering Act, supervised through a recognised self-regulatory organisation. XEROF is supervised through its VQF membership, number 100954. This is not a banking licence, and a provider claiming to be FINMA licensed for this activity should be questioned.

Is an OTC desk better than an exchange for a large conversion?

For a large amount, usually yes. A desk quotes one firm price for the whole trade, so the size does not move the market against you. On an exchange your order fills against a public order book, and a large order takes progressively worse prices, called slippage.

Why does segregated custody matter?

If your assets sit in a wallet in your own name rather than pooled on an exchange balance, they are protected if the provider fails. Pooled funds are exposed to the provider's other obligations. XEROF holds one dedicated wallet per client.

How should the fee be shown?

Clearly and separately. Liquidity should be passed through at cost with the provider's fee on its own line, so you can see exactly what you pay and compare providers honestly.

Can a company receive the fiat in its own name?

It should be able to. XEROF settles fiat to a bank account in the company's own name over SEPA, SWIFT, Fedwire, CHAPS or Faster Payments, rather than through a third-party account.

Guide

How to choose a crypto to fiat provider in Switzerland

What to check before you convert cryptoassets to fiat through a Swiss provider: regulatory standing, segregated custody, a firm OTC price rather than an order book, and a fee you can see.

What to look for

Switzerland has many ways to turn crypto into cash, from public exchanges to regulated settlement desks. The four points below are what separate a provider you can rely on for size from one you cannot.

Regulatory standing you can verify

In Switzerland a crypto-to-fiat provider must be a financial intermediary under the Anti-Money Laundering Act, supervised through a self-regulatory organisation. Ask for the SRO and the membership number and check it. XEROF is supervised through VQF, membership 100954. This is not a banking licence, and a claim of a FINMA licence for this activity should be questioned.

Segregated custody, not a pooled balance

Your assets should sit in a wallet in your own name, not commingled with other clients' funds on an exchange balance. Segregation is what protects you if the provider fails. XEROF holds one dedicated on-chain wallet per client.

A firm OTC quote, not an order book

A desk quotes one firm price for the whole trade, so a large conversion does not move the market against you. An exchange fills your order against a public book, and size gets progressively worse prices. XEROF is a brokerage and settlement counterparty, not an exchange, and holds no order book.

One visible fee

Liquidity should be passed through at cost with the provider's fee shown on its own line, so you see exactly what you pay. A single quoted rate with the margin hidden inside makes providers impossible to compare.

A regulated OTC desk compared with a public exchange

For a large or recurring conversion, the difference between a firm quote and a public order book is the difference between a known price and slippage.

Regulated OTC deskPublic exchange

PricingOne firm quote for the whole tradeOrder book, slippage on size

CustodySegregated wallet in your namePooled exchange balance

Fiat payoutBank transfer in your own nameWithdrawal, often via a third party

FeeShown on its own lineSpread, often hidden in the rate

CounterpartyOne Swiss regulated VASPThe exchange and its market makers

Questions to ask any provider

Six questions that quickly show whether a provider is a regulated counterparty or a re-labelled exchange account.

Which self-regulatory organisation supervises you, and what is your membership number?
Is my wallet segregated in my own name, or pooled with other clients' funds?
Do you quote one firm price for the whole trade, or fill against an order book?
Is your fee shown separately from the exchange rate?
Which fiat currencies and rails do you settle over, and to a bank account in whose name?
How long does settlement take, and what are the minimum and maximum sizes?

How XEROF answers these

XEROF is a Swiss regulated VASP, supervised through VQF membership 100954. Conversions run through the OTC desk at one firm price, assets are held in segregated custody in your own name, and fiat is settled to a bank account in your name through the settlement service, with the fee shown on its own line.

Choosing a provider: common questions

What makes a crypto to fiat provider regulated in Switzerland?: It must be a financial intermediary under the Swiss Anti-Money Laundering Act, supervised through a recognised self-regulatory organisation. XEROF is supervised through its VQF membership, number 100954. This is not a banking licence, and a provider claiming to be FINMA licensed for this activity should be questioned.
Is an OTC desk better than an exchange for a large conversion?: For a large amount, usually yes. A desk quotes one firm price for the whole trade, so the size does not move the market against you. On an exchange your order fills against a public order book, and a large order takes progressively worse prices, called slippage.
Why does segregated custody matter?: If your assets sit in a wallet in your own name rather than pooled on an exchange balance, they are protected if the provider fails. Pooled funds are exposed to the provider's other obligations. XEROF holds one dedicated wallet per client.
How should the fee be shown?: Clearly and separately. Liquidity should be passed through at cost with the provider's fee on its own line, so you can see exactly what you pay and compare providers honestly.
Can a company receive the fiat in its own name?: It should be able to. XEROF settles fiat to a bank account in the company's own name over SEPA, SWIFT, Fedwire, CHAPS or Faster Payments, rather than through a third-party account.

Talk to XEROF about settlement. Corporate and private onboarding takes a few business days, and pricing is liquidity at cost with one visible fee.

Talk to our team Open account