Swiss Bitcoin Advocates Petition for BTC Reserves at National Bank
A coalition of Bitcoin supporters in Switzerland is pushing for the Swiss National Bank (SNB) to add Bitcoin to its reserve holdings. They’re planning to start a petition for a referendum aimed at changing the national constitution, which will necessitate collecting signatures from over 100,000 Swiss nationals. According to Yves Bennaïm, founder and chairman of […]
UBS expansion plans ruined by new Swiss bank capital regulations
UBS might need to slow its roll because Switzerland’s finance honchos just rolled out some tough new rules that’ll make it pricier for the bank to grow. In an interview, the country’s finance minister threw down the gauntlet, saying that UBS, along with other big banks, will need to beef up their capital if they […]
FDIC disses Switzerland over approach to Credit Suisse collapse
The way Switzerland handled the downfall of Credit Suisse by merging it with UBS did not sit well with U.S. regulators. The chair of the Federal Deposit Insurance Corporation (FDIC), Martin Gruenberg, openly criticized this approach. Unlike the Swiss method, he noted, U.S. authorities are geared up to completely shut down such a major bank […]
Switzerland and Liechtenstein crypto projects soar in value by 107% to $382.93B
In a recent report published on January 16th by Swiss venture capital firm Crypto Valley (CV VC), it was revealed that the combined value of cryptocurrency projects based in Switzerland and Liechtenstein has experienced remarkable growth, surging by 107% year-over-year to reach a staggering $382.93 billion. This impressive increase in valuation can largely be attributed […]
Swiss financial watchdog wants more power post-Credit Suisse crash
In the wake of the tumultuous collapse of Credit Suisse, Switzerland’s financial watchdog, FINMA, has stepped into the spotlight, advocating for an expansion of its regulatory powers. This move is not just a reaction to a single financial debacle but a clear signal of a shifting paradigm in the Swiss banking sector’s oversight. The downfall […]
Switzerland’s Pando joins the party, files for spot Bitcoin ETF
Switzerland-based Pando Asset AG has made a notable entry into the spotlight. The digital asset management firm has recently filed an application with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tied to spot Bitcoin prices. This move places Pando among a growing list of companies eager to tap into […]
Switzerland’s inflation below 2% as decision to raise borrowing costs looms
Switzerland’s inflation rate showed signs of stabilization in August, providing policymakers with a last look at domestic economic pressures before their quarterly deliberations on whether to increase borrowing costs. In August, consumer prices increased by 1.6% compared to the previous year, a rate identical to the previous month, as Switzerland’s statistics agency reported. However, this […]
Swiss authorities freeze $26 million in crypto funds tied to Terraform Labs executives
Swiss authorities have taken a significant step in the ongoing investigation into Terraform Labs and its top executives by freezing approximately $26 million in cryptocurrency funds. Following requests from U.S. federal prosecutors in New York and the Securities and Exchange Commission (SEC), the move highlights the international cooperation in pursuing allegations of fraud and securities […]
UBS and Swiss govt’s shocking deal to safeguard losses
UBS and the Swiss government have solidified an agreement to insulate UBS from potential losses tied to its impending takeover of Credit Suisse. The deal, signed on Friday, positions the government as the safety net for UBS, agreeing to absorb losses up to 9 billion Swiss francs (approximately $10 billion) linked to specific Credit Suisse […]
Switzerland’s bank Postfinance hops on the crypto bandwagon
Switzerland’s PostFinance, a fully government-owned retail bank, has announced its plans to launch cryptocurrency trading and storage services for its customers. The bank has partnered with Sygnum, a local cryptocurrency bank, to provide its customers with a range of regulated digital asset banking services. PostFinance goes crypto PostFinance is joining the crypto bandwagon by allowing […]
Crypto in Switzerland did not falter despite tough year
According to data provided by the venture capital company CV VC, crypto-friendly Switzerland has not seen anything too dramatic as a result of the recent market drop. The ‘Top 50’ report found that whilst 183 blockchain enterprises in Switzerland closed their doors in 2022,190 new blockchain startups and offices were created by companies based in other […]
PostFinance partners with Swiss Post to launch the crypto project
Recently the post agency in Switzerland spoke about its developments in the crypto space through the PostFinance, fifth-largest bank in the country. Although crypto trading is experiencing high volatility, banking in Switzerland is not holding back from launching its crypto services by the year 2024. The country in Europe is growing in crypto adoptions, which […]
Swissquote plans to launch a crypto exchange platform
TL;DR Breakdown Swissquote is planning to start a crypto exchange soon. The bank said it has a very high demand for digital assets and is coping with the overwhelming demand. Swissquote plans to launch a crypto exchange platform to serve its clients better sometime in 2022. The bank said that its services are gaining a […]
Swiss starts CBDC trials featuring the national bank and five other banks
TL;DR Breakdown The Swiss National Bank has announced the beginning of testing their CBDC with five banks to determine its interoperability. The CBDC tests aim to determine how the coin will function within private banks and backed by Bank for International Settlements (BIS). The Swiss National Bank has announced the beginning of a test phase […]
FINMA approves first Swiss crypto fund for qualified investors
TL;DR Breakdown: FINMA has approved the first-ever Swiss crypto fund. The fund is only available for qualified investors, and it will invest solely in established cryptocurrencies. The financial regulatory body of the Switzerland government has greenlighted the country’s first fund that invests in cryptocurrencies. According to the press report by the Financial Market Supervisory Authority […]
Fintech firm Leonteq AG expands crypto services to Germany, Austria
TL;DR Breakdown Leonteq partners German bank to expand crypto services. Leonteq crypto service expansion would meet need of DACH region. Swiss banks already breaking grounds in crypto space. Leonteq AG, a Switzerland-based crypto fintech firm, has partnered with ICF BANK AG to expand crypto services to Germany and Austria. The partnership would help the Swiss […]
FINMA rejects Bitcoin Suisse’s application for a banking license
TL;DR Breakdown The Swiss financial regulator rejected Bitcoin Suisse’s application for a banking license. The company wants to withdraw from the application presently. The banking license application filed by Bitcoin Suisse AG, a Switzerland-based digital currency investment company, has been turned down by the country’s financial watchdog. The Swiss Financial Market Supervisory Authority (FINMA) considered […]
First Polkadot ETP to launch on SIX exchange
TL;DR Breakdown: For the first time, a Polkadot ETP will be launched on SIX exchange. This will provide institutions an exposure to the crypto and its ecosystem. The first-ever Polkadot (DOT) ETP, or exchange-traded product, will be launched on the Swiss Stock Exchange (SIX exchange) tomorrow by 21Shares, a Switzerland-based crypto-assets investment provider. This is […]
Switzerland regulator awards Crypto Broker AG a securities house license
TL;DR Breakdown: FINMA has awarded a securities house license to Crypto Broker AG. This will enable the brokerage company to better serve institutional clients in crypto. A Switzerland-based cryptocurrency brokerage company, Crypto Broker AG, has been awarded a license that will expand its reach to more institutional investors. According to the press statement on Monday, […]
Crypto-friendly SEBA Bank plans expansion with $22M fresh capital
TL;DR Breakdown: SEBA bank has completed a Series B funding round, raising about $22 million from new and existing investors. With the capital, the company intends to accelerate its growth by boosting its offering locally and internationally. The Switzerland banking licensed digital currency company, SEBA Bank announced on Wednesday, the completion of its Series B […]
Crypto trading: BBVA to launch Swiss crypto services soon
TL:DR Breakdown: A Spanish bank, BBVA, is reportedly planning to launch digital currency services in Switzerland, including crypto trading. The services are expected to be launched later in January, as they await regulatory approval. A leading Spanish financial services company, BBVA, is reportedly planning to debut crypto trading and other digital currency-related services in the […]
Switzerland bank launches new blockchain token services
Switzerland bank has released services for its blockchain token Tezos ( XTZ). Sygnum bank which prioritizes dealing with verified digital assets in Switzerland has launched its first range of services for its proof of stake blockchain token. The news came out today that the bank will allow people to both trade, stake, and have custody […]
Russia bank launches cryptocurrency to Switzerland
Russia bank declares it will open up a crypto service in Switzerland. Gazprombank, a bank which is from Gazprom, an energy plant in Russia will be orchestrating the crypto service in Switzerland. The regulated service in Switzerland, approved by the Swiss Financial Supervisory Authority (FINMA), will initially run the service for a few clients. Russia […]
Crypto Valley waxes stronger despite failed funding request
The recent report for Switzerland and Liechtenstein’s blockchain and crypto industry (popularly known as ‘Crypto Valley’) has reassured that the participating companies can strive without government aids. Previously, the Swiss government had turned down their request to receive funding during the early times of the Coronavirus pandemic. However, the Swiss crypto industry could come out […]
