Hypothekarbank Lenzburg Joins SDX Crypto Exchange, Enhances Swiss Digital Asset Services
Summary:
Swiss bank Hypothekarbank Lenzburg joins the Central Securities Depositary of the SDX crypto exchange. As the sixth member of the exchange, Lenzburg will have access to various forms of digital securities. The decision aligns with Switzerland's broader efforts to lead the adoption of cryptobanking and digital asset services.
Hypothekarbank Lenzburg, a Swiss bank holding over $7 billion (6.6 billion Swiss francs) in assets, is now a member of the Central Securities Depositary of the SDX crypto exchange. As disclosed in a press statement issued on Sept. 27, Hypothekarbank Lenzburg is the newest bank to join forces with SDX, collaborating with existing members such as Berner Kantonalbank, Credit Suisse, Kaiser Partner Privatbank, UBS, and Zürcher Kantonalbank. All the said institutions, including SDX itself, are Swiss-based, with the parent company of SDX, SIX group, operating out of Zurich. Related: Bitcoin's prominence in Lugano and how Cointelegraph is exploring it through BTC school. The press statement elaborated that, through its membership with SDX’s Central Securities Depositary, Hypothekarbank Lenzburg will gain capabilities to perform transactions in various forms of digital securities, like Digital Bonds and Digital Equities, utilizing the blockchain-based platform. Hypothekarbank Lenzburg’s CEO, Marianne Wildi expressed, “Joining SDX signifies an important milestone in strengthening our bank's recognition in the field of digital assets. In addition to token issuance and custody, we aim for our services to encompass the ability to list digital value rights on a reliable trading venue.” Switzerland is leading the charge in crypto acceptance through its supportive regulatory environment. In April, PostFinance, a retail bank entirely owned by the Swiss government collaborated with cryptocurrency bank Sygnum to provide customers with regulated digital asset banking services. May saw the Swiss Post releasing a fresh crypto stamp iteration equipped with physical and nonfungible token versions, integrated with artificial intelligence technology. Magazine: ‘AI is revolutionizing the industry’- EasyTranslate leader discusses adaptation to change.
Published At
9/27/2023 7:25:50 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.