Lưu trữ cho từ khóa: Switzerland

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Swiss SIX stock exchange explores setting up crypto arm in Europe

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The Swiss stock exchange is considering launching a crypto trading platform in Europe, aiming to attract traditional investors by leveraging Switzerland’s crypto-friendly laws.

The Swiss stock exchange operator, SIX Group, is considering establishing a new platform in Europe for crypto trading, aiming to challenge major players like Binance, OKX, and Coinbase, the Financial Times reports, citing Bjørn Sibbern, global head of exchanges at SIX Group.

The company hopes to leverage its reputation and Switzerland’s progressive crypto regulations to attract institutional investors interested in crypto trading. Sibbern says the stock exchange is mulling over the idea given that crypto has become “more and more a recognized asset class.”

Currently, the company is evaluating the creation of a platform “where we can help facilitate trading, whether it is [spot] crypto or whether it is derivatives,” he added, without elaborating on the timeframe of the platform’s launch.

SIX’s crypto venue to target institutional investors only

While many traditional financial firms have hesitated to enter the crypto space due to regulatory uncertainty, companies such as Deutsche Börse, Nomura, and Standard Chartered have already launched separate crypto trading venues.

Sibbern emphasized that the new venue would be open exclusively to institutional investors, adding that an increasing number of global banks and institutions are now exploring opportunities in crypto. Targeting big investors, the platform would capitalize on Switzerland’s crypto-friendly environment, where clear regulations govern asset trading and custody.

In late July, the Swiss Financial Market Supervisory Authority published a guidance addressing the risks and challenges associated with stablecoins for issuers and banks providing guarantees. In the guidance, the regulator underscored the necessity for stablecoin issuers to verify the identities of token holders and beneficial owners to mitigate these risks.

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Altcoin

Switzerland’s fourth-largest bank ZKB launches crypto services

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Zurich Cantonal Bank, Switzerland’s fourth-largest bank, has launched crypto trading and custody services, expanding its financial offerings.

Zurich Cantonal Bank, Switzerland‘s fourth-largest bank, has officially entered the crypto market, offering its clients the ability to trade and store Bitcoin (BTC) and Ethereum (ETH).

In a Sept. 4 press release, the bank said the new offering is integrated into its existing digital platforms, including ZKB eBanking and ZKB Mobile Banking. The bank has partnered with Crypto Finance AG, a subsidiary of Deutsche Börse Group, to execute crypto trades, the press release reads.

Alexandra Scriba, head of institutional clients & multinationals at ZKB, says customers and third-party banks will not need their own wallet and do not have to worry about storing their private keys, as the bank will handle both processes.

ZKB’s entry into the crypto space is not just limited to its own clients as the bank is also offering a business-to-business solution that enables other Swiss banks to provide crypto trading and custody services. Per the press release, Thurgauer Kantonalbank, a Swiss cantonal bank, has become the first partner bank to adopt this service.

The latest move is continuation of ZKB’s latest efforts to foray into the crypto market as in recent years, the bank explored blockchain technology extensively, including its participation in the issuance of the world’s first digital bond on the SIX Digital Exchange in 2021 and its role as joint lead manager in a 2023 Swiss National Bank pilot project for issuing digital bonds with central bank digital currency.

ZKB’s initiative comes amid a broader expansion of crypto services among Swiss financial institutions. In late June, crypto-friendly bank Sygnum, based in Zurich, extended its business-to-business services to over 20 entities, including PostFinance, ZugerKB, and LuzernerKB, allowing a significant portion of the Swiss population to access crypto markets.

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NFT

UAE’s neobank Zand Bank teams up with Taurus to offer crypto services

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Duba-based digital bank Zand has signed a strategic partnership with Swiss crypto management platform Taurus to offer digital asset services.

Swiss crypto management firm Taurus is now a “strategic partner” for Dubai-based digital bank Zand Bank as the financial lender wants to expand its crypto offerings and services tied to tokenized securities.

Zand, licensed and regulated by the central bank of the UAE, said in a press release sent to crypto.news it will rely on Taurus’ crypto wallet services, both hot and cold, to offer custodian services for crypto, non-fungible tokens (NFTs), and digital currencies. Zand will also leverage Taurus’ products to issue and perform asset servicing “of any type of tokenized financial and real-world assets.”

“Zand will be able to deploy and manage the lifecycle of any smart contract standard across both public and private blockchains,” the press release reads.

Zand Bank CEO Michael Chan highlighted that the partnership represents a big advancement in the bank’s efforts to establish a “new benchmark” for digital asset services, aiming to expand its crypto offerings to customers.

For Taurus, the latest partnership comes just a week after the FINMA-regulated crypto management platform expanded its crypto offerings, adding to its list of supported networks Stellar. Founded in 2018 by Lamine Brahimi, Sébastien Dessimoz, Oren-Olivier Puder, and Jean-Philippe Aumasson, Taurus secured $65 million from institutional investors such as Credit Suisse, Deutsche Bank, Arab Bank Switzerland, and others, according to data from PitchBook.

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Bitcoin

Swiss email provider Proton debuts self-custody Bitcoin wallet

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Swiss tech company Proton has presented a self-custody digital wallet with support for crypto transactions via email.

Proton AG, a Swiss technology company known for its privacy-focused online services, has introduced an open-source self-custody digital wallet named Proton Wallet. This new solution, currently in early access, is available on the web, Android, and iOS platforms, according to a press release shared with crypto.news.

Proton says the wallet will only support Bitcoin (BTC) at launch but may add support for “other currencies,” including fiat, in the future “depending on user feedback.”

Proton Wallet interface | Source: Proton AG

With the product, users can send crypto using email addresses, even if those addresses are not linked to Proton Mail, Proton’s encrypted email service. The company has already secured integrations with onramps that enable users to purchase Bitcoin in over 150 countries, though it hasn’t disclosed its partners.

“By enabling us and the entire Proton community to more easily adopt means of payment which are not controlled by centralized institutions, we better insulate Proton from the risks posed by traditional finance.”

Proton

Additionally, Proton is developing a paid version called Proton Wallet Plus, which will feature Proton Sentinel, a “special security program” for users at “higher risk of cyberattack.” The release didn’t detail the technical features or the availability timeline of this version.

Founded in 2013, Proton has long been tied to blockchain-related initiatives. In late 2023, Proton Mail unveiled a feature that automatically compares users’ public keys — generated once they create an email on Proton — with intended recipients on a blockchain to ensure that emails go to the right destination. The mail service has also been holding Bitcoin on its balance sheet since 2017 and continues to accept crypto as a payment method.

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