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Think Tank Tells Swiss National Bank to Launch Swiss Franc Token,...

A think tank says the debate about digitization and distributed ledger technology in Switzerland has focused more on risks than opportunities. Switzerland’s national bank should work with large industry players to develop a Swiss franc token, according to a report by the Avenir Suisse think tank on June 4. Avenir Suisse is an independent privately funded think tank, with a yearly budget of reportedly 5 million Swiss francs ($5 million). Despite the opportunities that distributed ledger technology (DLT) is creating in the country’s finance industry — especially in trade finance, asset management and capital markets — researchers argue that the debate surrounding digitization is focused too much on the risks. Avenir Suisse’s report claims that if Switzerland became a dominant player in trading tokenized securities, its relatively small capital market could expand and attract more domestic and international players. In addition, it claims wealth managers would get the chance to “exploit ..

Major Swiss Telecoms Firm Swisscom to Distribute Tokenized Artwork

Major Swiss telecommunications firm Swisscom announced its plans to distribute tokenized artwork through its Swisscom TV television network. Major Swiss telecommunications company Swisscom announced its plans to distribute tokenized artwork through its Swisscom TV television network. The news was revealed in a press release published on May 22. Per the release, limited artworks — initially 100 works by 30 artists — from selected artists are exclusively available on the Swisscom TV box through the NOOW app. The app was developed by Swiss tokenization startup Dloop. The works have been chosen by Stefanie Marlene Wenger, who commented in the press release on the development: “This is about more than creating a virtual gallery; the next step will be to include curated exhibitions on the platform and a close collaboration with galleries.” Since its launch, NOOW app reportedly allows users to select pieces and buy certified copies, which will be issued in limited numbers. The press release ..

Major Swiss Stock Exchange SIX Developing Stablecoin Pegged to the Franc

The company is also planning to launch a blockchain-powered exchange for digital tokens in the second half of 2019. Financial service provider SIX is developing a stablecoin pegged to the Swiss franc, a company spokesman confirmed to Cointelegraph on May 23. The company is also planning to launch a blockchain-powered exchange for digital tokens in the second half of 2019, but the spokesman said he was currently not at liberty to discuss further details concerning whether the stablecoin will operate on that exchange. SIX also runs Switzerland’s top stock exchange — and earlier this month, a top executive revealed that the company is planning to issue its own tokens on the upcoming digital exchange. Thomas Zeeb, SIX’s head of securities and exchanges, said at the time: “Ultimately we want to be able to tokenize existing securities — equities, fixed income, funds. Maybe the token will eventually replace the share one day.” Testing is expected to begin later in the summer, paving the way ..

Swiss Post Partners With Blockchain Startup on Temperature Monitoring Shipments Solution

Switzerland’s national postal service Swiss Post has cooperated with blockchain firm Modum. Switzerland’s national postal service Swiss Post has cooperated with blockchain firm Modum to further develop a temperature monitoring solution for shipments. The news was reported by Swiss logistics news site Die Post on May 7. Die Post reports that Swiss Post has cooperated with Modum, a blockchain and Internet of Things (IoT) technology firm, as a technology partner to launch a smart service. Dubbed ThermoCare, the service is for monitoring the temperature of packages, enabling sensitive gods to be tracked, analyzed and recorded over the full course of their travel route. The solution is reported to be aimed at optimizing the transport of pharmaceutical goods in particular, as well as offering promise for the food industry. ThermoCare leverages Modum’s thermo-monitoring technology in order to ensure that specially packed goods — in ThermoCare boxes — are kept within a specified temperatur..

Swiss Exchange SIX Top Exec Reveals Plans to Launch Tokens on...

A top executive has revealed the company will look to issue its own digital tokens as part of its blockchain-powered digital exchange. A top executive at Switzerland's principal stock exchange, SIX Swiss Exchange, has revealed the company will look to issue its own digital tokens as part of its forthcoming blockchain-powered digital exchange. The development was reported by financial news outlet Finews on May 6. The SIX Swiss Exchange sees roughly 5.2 billion Swiss Francs (CHF) (~$5.1 billion) in daily turnover, and has a market capitalization of over 1.67 trillion CHF ~($1.6 trillion). As previously reported, SIX unveiled its plans to launch a digital asset ecosystem, dubbed Six Digital Exchange (SDX), in July 2018. In today’s interview, Thomas Zeeb — head of securities and exchanges and director at SIX — revealed that the exchange’s plans will encompass native digital applications, involving the launch of new tokens alongside an initial digital offering service. Zeeb anticipate..

Major Swiss Stock Exchange SIX Lists XRP Exchange Traded Product

Major Swiss stock exchange SIX listed a Ripple-based Exchange Traded Product dubbed Amun Ripple XRP (AXRP). According to its official website, Switzerland’s principal stock exchange, SIX, has listed a Ripple (XRP)-based Exchange Traded Product (ETP) today, April 2. As Cointelegraph reported in March, the exchange had already confirmed that it was planning to list the product, dubbed Amun Ripple (AXRP). Hany Rashwan, co-founder and CEO of Amun — the cryptocurrency derivative development company behind AXRP — at the time claimed that this is the first such product on the market: “We can comfortably say that we expect to release the world’s first XRP ETP within the next two months.” Furthermore, Rashwan also told media that the company has also received SIX’s approval to launch four more ETPs for other altcoins — Bitcoin Cash (BCH), Litecoin (LTC), Stellar (XLM) and Eos (EOS). In November last year, SIX also listed what was reportedly the world’s first ETP tracking an index of multiple c..

Study: Swiss FinTech Sector Grows, While Traditional Banks Decline

The fintech industry in Switzerland continues to grow dynamically, while traditional financial institutions are reporting a decline. A new study shows that the fintech sector in Switzerland continues to grow, while traditional financial institutions are stagnating. The report was published by SwissBanking on April 1. The report dubbed “IFZ FinTech Study 2019” was prepared by the Lucerne University of Applied Studies with an aim to show developments in the fintech industry in 2018 and analyze how banks position themselves vis-avis the fintech industry. Per the report, the Swiss fintech sector showed significant growth in 2018. With 356 active companies by the end of the year, the industry reportedly grew by 62 percent. The sector reportedly registered larger venture capital transactions, although the market for cryptographic assets was subject to a significant correction. The report further notes that the fintech industry is continuously developing compared to the general financial sec..

Swiss President Says Regulation for Blockchain Firms Should be ‘Fast and...

Swiss president Ueli Maurer has stressed that regulation for the blockchain sector should be fast and clear. The president of the Swiss Confederation, Ueli Maurer, has stressed that establishing regulation for the blockchain sector should be fast and clear. Maurer made his remarks at the CV Crypto Valley Summit in Zug on Wednesday, according to a report from local financial news agency FinNews on March 27. Maurer — who is also the country’s Minister of Finance — addressed the summit just days after the country’s Federal Council launched its consultation process with the Swiss parliament over prospective amendments to federal law that would improve the legal status of blockchain firms. With the Crypto Valley Summit reportedly attracting over 1,000 attendees, Maurer told the audience that Switzerland should take decisive and transparent action to amend existing laws in favor of the new technology, and that the Federal Council, and specifically the Federal Department of Finance (FDF), is..

Swiss Regulator FINMA Concludes That Mining Firm Envion’s ICO Was Unlawful

The Swiss Financial Market Supervisory Authority has concluded that crypto firm Envion’s $90 million ICO in January 2018 was unlawful. The Swiss Financial Market Supervisory Authority (FINMA) has finished enforcement proceedings against crypto mining firm Envion AG, the authority announced on March 27. As a result of the investigation launched in July 2018, FINMA concluded that Envion’s initial coin offering (ICO), which closed in early January 2018, was unlawful. Envion, a blockchain firm that claims to provide decentralized, clean energy for mobile mining units, faced a liquidation order from the cantonal court of Zug in November 2018 for conducting an allegedly unauthorized ICO. According to FINMA, the ICO raised more than 90 million Swiss francs, or roughly $90.5 million, from at least 37,000 investors without the necessary statutory license from the regulator. While Envion’s co-founder Michael Luckow made an effort to save the firm and its original concept, financial supervisors ..

Swiss Mortgage Bank Hypi Lenzburg Partners With Crypto Asset Manager TokenSuisse

Swiss mortgage bank Hypothekarbank Lenzburg has partnered with crypto asset manager TokenSuisse. Swiss mortgage bank Hypothekarbank (“Hypi”) Lenzburg has partnered with Swiss crypto asset manager TokenSuisse to expand the bank’s service offerings for crypto and blockchain firms. The development was announced on the bank’s official Twitter on March 25. Hypi Lenzburg is headed by CEO Marianne Wildi, reportedly a former programmer, who first launched the bank’s lending services support for crypto and blockchain firms in June of last year — a notable move in a national context where banking support for the emerging industry is a fraught issue. TokenSuisse AG is a Zug-based crypto asset and blockchain investment advisory firm and an official partner of crypto-fiat payments firm TokenPay. The firm, as financial media news agency FinNews reported, claims to have launched the world’s first global multi-crypto asset certificate, followed by a privacy coin certificate this February. The bank to..
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