March 28, 2024
The SDX Crypto Exchange Welcomes its Sixth Swiss Bank Onboard
Latest Cryptocurrency News

The SDX Crypto Exchange Welcomes its Sixth Swiss Bank Onboard

Hypothekarbank Lenzburg, a regional Swiss bank boasting assets exceeding $7 billion, has recently become the sixth Swiss bank to participate in the Six Digital Exchange (SDX) crypto exchange. This development, as announced in the press release dated September 27th, sees Hypothekarbank Lenzburg joining the ranks alongside fellow Swiss banks such as Berner Kantonalbank, Credit Suisse, Kaiser Partner Privatbank, UBS, and Zürcher Kantonalbank. Notably, all these institutions hail from Switzerland, while SDX’s parent company, Six Group, is headquartered in Zurich.

As outlined in the press release, Hypothekarbank Lenzburg’s integration with SDX’s central securities depository grants the bank the capability to engage in the trading of various digital securities on the blockchain-based platform. These securities encompass digital bonds and digital equities. Marianne Wildi, CEO of Hypothekarbank Lenzburg, commented.

“The SDX membership marks a significant step in advancing our bank’s presence in digital assets. Beyond token issuance and custody, our offering should include the possibility of listing digital value rights on a trusted trading venue.”

Switzerland is leading the charge in fostering cryptocurrency adoption by further enhancing its accommodating regulatory landscape. In April, PostBank, a retail bank under full Swiss government ownership, collaborated with the digital asset bank Sygnum to provide customers with a selection of regulated digital asset banking services. In May, Swiss Post introduced an updated crypto stamp series, which includes both physical and nonfungible token versions, incorporating advanced artificial intelligence technology.

Image by macrovector on Freepik

Related posts

China’s Weibo Removes 80 Crypto Influencer Accounts in Regulatory Sweep

Anna Garcia

Ethereum’s ERC-3643: Advancing Tokenization for Real Assets in Compliance

Cheryl  Lee

Senator Tuberville Calls for Investigation into Cryptocurrency Broker Prometheum

Harper Hall

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More