BaFin-regulated Crypto Exchange Swarm Markets Opens for Business

Fazzaco learned that Swarm Markets, the world's first licensed high-liquidity DeFi protocol, has officially launched a decentralized exchange.

According to the offcial announcement, Swarm Markets is regulated by the Federal Financial Supervisory Authority (BaFin). The firm collected over $15 million in funds from more than 250 persons who joined its liquidity provider program.

The newly launched platform will offer tokenized securities that can be traded with cryptocurrencies. In addition, Swarm Markets will offer a payment token that grants early adopters of the platform 50% trading fee rebates, together with other rebates. 

Notably, the firm also operates the provisional licenses under the German Banking Act (KWG), including Commission Business; Agent Broking; Trading on own account; and Custodian Business.