XEROF: Shielding Clients from Banks Collapse

The crypto industry is built on the idea that no single organisation, such as a bank, should control an individual's personal finances. However, until a "bankless future" is realised, traditional banking will likely continue to act as a link between centralised finance (CeFi) and decentralised finance (DeFi) for the foreseeable future.

The sector has undoubtedly been troubled by the recent closures of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank. As a result, many cryptocurrency businesses are currently looking for new banking partners, while anxious crypto holders wait to see what will happen next.

However, one exchange that has remained completely unaffected by the sudden bank collapse is XEROF. From the start, Swiss-based XEROF has prioritised the protection of customer funds by holding all clients' crypto in segregated wallets. This means that the client is always in control and has full ownership of their own funds. This feature is unique and unavailable through the vast majority of popular crypto exchanges.

The Swiss Alternative

Last Wednesday, Silvergate Capital, a major lender in the cryptocurrency sector, announced that it would close and liquidate its bank. Silicon Valley Bank, another major lender, failed to withdraw more than $42 billion from depositors last Friday in response to the bank's announcement that it needed to raise $2.25 billion to strengthen its balance sheet. Bank regulators seized Signature on Sunday night; that bank also had a significant crypto focus.

Many US cryptocurrency exchanges are now struggling to transfer funds to their trading accounts and move them to their bank accounts due to the failure of these three major tech banks.

Now that it is suddenly more difficult for US-based crypto companies to use lenders in the US, many of these companies are rushing to open Swiss bank accounts. It is predicted that the closure of banks in the US will encourage companies to work with banks in Europe, Asia, and offshore locations.

One popular alternative is Switzerland. The Swiss city of Zug has been dubbed "Crypto Valley," and Switzerland, long known for its private banking industry, is one of the friendlier countries in Europe for crypto companies.

XEROF is an exchange located in the heart of the Crypto Valley and offers many exciting crypto services to both individuals and businesses.

XEROF Remains in a Strong Position Despite Industry Panic

During this turbulent time, XEROF remains in a strong position to protect clients' funds. The exchange does not have any exposure to the recently impacted banks and financial institutions in the traditional financial or crypto sectors, which is one reason why XEROF has remained so resilient.

XEROF offers on-ramp and off-ramp services, which means it functions more like a broker than an exchange. As a result, the company does not accept client cash into its operations and instead uses completely separate wallets for each transaction. XEROF chose this type of exchange because it wants to give customers full ownership of their digital assets.

Users can easily transfer and receive cryptocurrencies due to the on-chain segregated wallets, which are registered in the client's name. Of course, the client's funds are completely segregated from XEROF's assets and balances, as on-chain wallets do not appear on the company's balance sheet.

In addition, all clients who choose to transfer their cryptocurrencies through XEROF's crypto gateway will experience zero banking friction for all transactions.

As XEROF is licensed in Switzerland and operates from its Swiss headquarters, the Swiss regulatory framework dictates that all client assets are held off-balance sheet and in separate cryptocurrency wallets and bank accounts, giving clients additional piece of mind.

In providing its core services, XEROF has several Swiss banking partners, including a wide range of excellent liquidity partners, top cryptocurrency wallet providers, and reputable security and insurance companies.

No matter what the market conditions may be, XEROF promises:

  • Compliance by adhering to all SRO/VQF licensing criteria.
  • World-class service providers in the industry provide KYC, AML, and KYT services.
  • All financial transactions remain secure by partnering with some of the most established banks in Switzerland.

Final Thoughts

The crypto banks' collapse has sent shockwaves in the industry, but there are plenty of alternative exchanges outside of the US. If you need assistance finding alternative solutions for your business or personal crypto holdings, you can contact XEROF to find out more.

@ All rights reserved. FE Swiss Financial AG trading as Xerof &  is a registered Virtual Asset Service Provider (VASP) supervised by the self-regulatory organisation (SRO) VQF for AML compliance. FE Swiss Financial AG is fully compliant with Swiss regulation in the field of AML/CFT from Swiss Financial Market Supervisory Authority FINMA. VQF SRO Membership Nr. 100954.All FE Swiss Financial AG dba XEROF services shall be governed by its General Terms and Conditions of Service, including, inter alia, a limitation of liability and a nomination of competent jurisdiction. These General Terms and Conditions may be consulted via our Website. FE Swiss Financial AG does not provide financial advice and nothing in our communications should be construed as financial advice.


XEROF is a Swiss-licensed FinTech specialising in cryptoassets. Our Tier 1 banking network allows clients to seamlessly navigate crypto and fiat transactions to manage investments, treasury, and settle third party expenses.

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