BB Trade Switzerland AG: the Swiss zondacrypto entity

analysisBB Trade Switzerland AG, also registered as BB Trade Switzerland SA and BB Trade Switzerland Ltd. (UID CHE-254.348.698), was entered in the Zug commercial register on 30 September 2020 with share capital of CHF 100,000 and André Terlinden as chair of the board. Terlinden, who had also been entered at incorporation as Divisio Holding AG's only board member, left the Swiss company's board on 29 June 2022, when Timo Fenner joined it. ^{1 2 3 4 5}

analysisA publication of 10 January 2024 in the Swiss Official Gazette of Commerce (SHAB) entered Przemyslaw Kral as president of the board without signing authority, with Guido Bühler and Fenner signing jointly by two. Bühler left the board according to a SHAB publication of 6 May 2026, which gave Dr. Timo Fabian Fenner sole signature. After the company went into liquidation, register data list Fenner and Przemyslaw Janusz Kral as its board members and Fenner as liquidator and sole authorised signatory. ^{6 1 2 7 8}

analysisThe terms of the zondacrypto Swiss platform, in force from 30 June 2025, make each client a party to a tripartite agreement with BB Trade Switzerland AG and BB Trade Estonia OÜ. BB Trade Switzerland processes the client's order and transmits it to BB Trade Estonia for execution; it is responsible for the fiat-currency part of each transaction and BB Trade Estonia for the digital-asset part, including transfers of purchased digital assets to customers and acceptance of customers' digital-asset payments for exchange into fiat. BB Trade Switzerland accepts customers' fiat payments and transfers them on the customer's behalf to BB Trade Estonia to close the transaction, or returns them; customer fiat it holds bears no interest, is not invested or converted and is held for no longer than 30 days. The brand's contact page states that on the zondacrypto Swiss platform funds are sent directly to the customer's wallet or bank account and are not stored on the platform. ^{1 2}

analysisA press release issued for the brand on 2 July 2025 describes zondacrypto Swiss as a regulated crypto on- and off-ramp operated by BB Trade Switzerland and part of the "zondacrypto Group", which it says operates the zondacrypto exchange, the zondacrypto pay crypto-fiat payment gateway and the ZND platform. A January 2025 release issued for the brand with Incore Bank calls BB Trade Switzerland AG the brand's Swiss entity and states that "zondacrypto" is a trademark identifying the services of various entities within the group, does not in itself refer to any single legal entity and does not imply a single corporate identity, ownership structure or legal responsibility. ^{3 4}

analysisA press release issued for the zondacrypto brand together with Incore Bank on 14 January 2025 announced that the brand was opening an office in Zug for BB Trade Switzerland AG and entering a collaboration with the bank; Swiss financial press reported the partnership the same day, quoting Przemysław Kral as chief executive of Zondacrypto. This is the partners' announcement, and no account or service agreement is in the retained record. The same release also states that BB Trade Switzerland AG is affiliated with VQF, a Swiss self-regulatory organisation for anti-money-laundering purposes, may offer payment transaction services and, as the brand's Swiss entity, is a member of the Swiss Blockchain Federation, but that in Switzerland the brand is not licensed or supervised by the Swiss Financial Market Supervisory Authority (FINMA). That is a self-statement of the brand and its banking partner, and no VQF membership record was retained; a Swiss consultancy's April 2026 publication repeats the VQF membership. ^{4 5 6}

analysisNone of the retained records shows who held the shares of BB Trade Switzerland AG before its general meeting dissolved it on 16 July 2026: the register data state that no information on its ownership structure is known, and a Swiss AG's shareholders are recorded in its private share register. BB Trade Estonia OÜ's 2024 consolidated report does not list it in its consolidation group, while a law firm acting for claimants in the bankruptcy describes it as a wholly owned subsidiary of the exchange with Timo Fenner and Guido Bühler as directors. Citing the company's records, the same firm reports that BB Trade Switzerland invoiced BB Trade Estonia EUR 200,000 in 2023, and that Divisio Holding AG invoiced it EUR 200,000 in 2023 and EUR 400,000 in 2024; the underlying invoices are not in the retained record. ^{1 2 3 4}

analysisBB Trade Switzerland AG was dissolved by resolution of its general meeting of 16 July 2026; a SHAB publication of 29 July 2026 records its new name, BB Trade Switzerland AG in Liquidation, its move from Zug to Zollikon, c/o NEUPERT, VUILLE & PARTNER, Dufourstrasse 58, and Fenner's entry as liquidator with sole signature. Lawyer-directory profiles describe Fenner as a partner of Neupert Vuille Partners since 2021, with the firm's postal address at that Zollikon address. Swiss financial press had reported on 27 April 2026 that one partner of the firm sat on the board of BB Trade Switzerland, which the report called apparently the operator of the Swiss ZondaCrypto platform, and another was the sole board member of Divisio Holding in Zug. The article did not name the two lawyers; register entries show Fenner on the board of BB Trade Switzerland and André Marcel Terlinden as the board member of Divisio Holding AG. According to the report, both lawyers left the outlet's requests of the previous week unanswered. ^{2 4 5 6 7 8}