BRANDL TALOS advises RIDDLE&CODE on registration proceedings before the FMA

Press release • Banking, Insurance and Securities Regulation Law from Raphael Toman

Fintech company RIDDLE&CODE FinTech Solutions has been successfully authorized by the Austrian Financial Market Authority (FMA) as a "virtual currency service provider". This makes the company one of the first to receive the corresponding authorization in Austria.

The company is devoted to promoting tokenization of industrial services, where regulatory requirements are still in development and challenging to meet. Following successful registration, RIDDLE&CODE and its Token Management Platform—which have already been fully audited and accepted by Switzerland’s regulator FINMA—are now licenced to safeguard and issue payment and utility tokens.

» With the FMA registration, RIDDLE&CODE is one step closer to becoming the leading—and at the same time fully compliant—tokenization provider in the industrial sector. We have been a trusted partner of the industry for two years and are pleased to extend our activities to enable new business models and services through tokenization. «

Alexander Koppel, CEO of RIDDLE&CODE

» The official FMA approval is a strategic milestone for RIDDLE&CODE. We are pleased that we could make an important contribution to the company's success, demonstrating, once again, our expertise in the fintech industry. «

Raphael Toman, Associated Partner at BRANDL TALOS

About RIDDLE&CODE FinTech Solutions

RIDDLE&CODE FinTech Solutions, a subsidiary firm of the leading European blockchain interface company RIDDLE&CODE, builds hardware and software stacks that empower funds, crypto exchanges and regulated financial institutions to manage all aspects of key generation, custody, AML, regulatory compliance and token management with unmatched versatility and security.

The team

Raphael Toman

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Partner / Legal Tech, IP & Data Protection, Regulatory, Capital Markets, Compliance & Internal Investigations, Banking, Insurance and Securities Regulation Law

Raphael advises national and international financial service providers in proceedings before civil and administrative courts (as well as before the Austrian Financial Market Authority) and on regulatory issues, money laundering prevention, sanctions, and crypto assets. He also represents clients from various industries in (cross-border) litigation. He further supports companies in data protection matters and is the data protection officer for, among others, a biotech company, an international sports association, and an international e-money issuer.

University of Vienna, Faculty of Law (Mag. iur. 2011, Dr. iur. 2019)
New York University, University of Vienna academic excellence scholarship (LL.M. 2017)
admitted to the New York bar (2017)
Stagiaire at the International Chamber of Commerce (2018)

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