Hypothekarbank Lenzburg, a leading Swiss regional bank boasting assets of over $7 billion, has taken its place in the Six Digital Exchange (SDX), marking the sixth Swiss bank to make this move.
In a recent press release, SDX celebrated the addition of Hypothekarbank Lenzburg to its central securities depository (CSD).
Headquartered in Zurich, SDX is a venture by the Six Group and counts prestigious Swiss banks like Berner Kantonalbank, Credit Suisse, Kaiser Partner Privatbank, UBS, and Zürcher Kantonalbank among its members.
By integrating with SDX’s central securities depository, Hypothekarbank Lenzburg now has the gateway to a wide spectrum of digital securities available for trade on the blockchain-driven platform, including but not limited to digital bonds and stocks.
Marianne Wildi, the CEO of Hypothekarbank Lenzburg, commented on this development: “Securing a membership with SDX is a pivotal move in bolstering our bank’s footprint in the realm of digital assets. Our aspirations go beyond just token issuance and custody; we envision offering the capability to list digital value rights on a reputable trading platform. SDX’s infrastructure resonates perfectly with our ambitions, and we’re excited about the upcoming collaborative endeavors.”
Switzerland Leads Crypto Adoption in Europe
Switzerland is making strides as a leading force in cryptocurrency acceptance, fostering a regulatory landscape that encourages digital asset proliferation.
As showcased in statistics from BitcoinCasinos.com, Switzerland outpaces other European nations in crypto adoption, boasting a rate of 21% in 2023.
This welcoming approach to cryptocurrencies has spurred a flurry of digital asset projects within the country.
For instance, in April, PostFinance — a retail bank under the full ownership of the Swiss government — collaborated with the digital asset bank Sygnum. This partnership aims to provide its clientele with regulated banking services centered around digital assets.
Through this collaboration, the government-backed Swiss bank aims to grant its vast clientele of 2.5 million individuals the ability to purchase, trade, and hold Bitcoin and Ethereum, two dominant global cryptocurrencies. It is anticipated that a broader array of tokens will be incorporated down the line.
In another stride towards crypto integration, Swiss Post unveiled an innovative crypto stamp in May. This version merges the tangible and the digital, combining physical stamps with their non-fungible token (NFT) counterparts, all powered by artificial intelligence.
Taking it a notch higher, the Swiss National Bank (SNB) has divulged intentions to roll out a wholesale central bank digital currency (CBDC) via Switzerland’s SIX digital exchange.
Chairman Thomas Jordan, speaking at the Point Zero Forum, remarked, “This isn’t merely a pilot; it will represent actual money on par with bank reserves. Our aim is to facilitate genuine transactions with industry stakeholders.”
Credit Suisse, a renowned Swiss investment bank, has collaborated with the Swiss Football Association (SFA) to launch an exclusive non-fungible token (NFT) collection.
This collection, consisting of 756 NFTs created on the Ethereum blockchain, showcases portraits of players from the Swiss Women’s National Team. Starting from July 11, these NFTs will be up for grabs via CSX, the bank’s dedicated digital banking platform.
Notably, the revenue generated from this initiative will be channeled towards the national team and other entities committed to championing female football athletes.