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Switzerland’s financial regulator is not satisfied with the emergency plans of two of the Alpine nation’s five major banks. The assessment refers to a period prior to the rescue of Credit Suisse by UBS when the authority viewed the troubled giant’s preparedness in positive terms. 2 Swiss Banks Unable to Implement Recovery Plans, Finma Finds […]Powered by WPeMatico
Postfinance, one of Switzerland’s largest retail banks, will offer customers access to major cryptocurrencies and related services. The state-owned financial institution will be using the banking platform developed by the Swiss-licensed digital asset bank Sygnum. Postfinance Partners With Sygnum to Provide Digital Asset Products and Services The financial services unit of the national postal service […]Powered by WPeMatico
Switzerland’s troubled Credit Suisse and its rescuer, USB, are subject to an investigation into whether bankers helped Russian oligarchs evade Western sanctions, according to a media report. Some major U.S. banking institutions are also under scrutiny within the probe initiated by the Justice Department, sources say. Credit Suisse, US Banks Investigated for Suspected Sanctions Violations […]Powered by WPeMatico
After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the […]Powered by WPeMatico
The second-largest bank in Germany, DZ Bank, is preparing to become a provider of custody services for crypto assets. The offering will be facilitated by a partnership with Metaco, a Swiss company that specializes in helping financial institutions to operate in the digital asset space. DZ Bank to Use Metaco’s Harmonize Platform to Launch Crypto […]Powered by WPeMatico
Digital asset infrastructure provider Taurus has secured millions of U.S. dollars in investment from major banking institutions. The successful funding round comes in the aftermath of negative developments in the crypto space, indicating that large players from traditional finance remain engaged with the market despite its woes. Credit Suisse, Deutsche Bank Invest in Digital Asset […]Powered by WPeMatico
While the global industry built around digital assets is losing funds and jobs are dropping off, Switzerland seems to be weathering the storm relatively well, one piece of research claims. In fact, more crypto companies settled in the country during the past turbulent year than those that left it, or the business altogether. Crypto Valley […]Powered by WPeMatico
The Swiss financial regulator has published its updated anti-money laundering (AML) ordinance, noting it’s extending the coverage to include blockchain trading platforms. It also clarified certain reporting and identification requirements that apply to crypto transactions. Financial Authorities Adjust Swiss Anti-Money Laundering Rules Concerning Crypto Transfers Following consultations that started earlier this year, the Swiss Financial […]Powered by WPeMatico
The latest troubles in the crypto space have allegedly led to an increased supply of second-hand luxury watches, according to a leading trading platform. As a result, prices of sought-after models by major brands like Rolex and Patek have dropped, the company revealed. Higher Supply After Crypto Crash Hurts Resale Prices of Top Watches From […]Powered by WPeMatico
Crypto trading is increasingly similar to the U.S. stock market of the late 1920s, the head of the Swiss financial watchdog has remarked. The high-ranking official believes that regulatory agencies around the world should do more to ensure investor protection. Swiss Financial Watchdog Executive Calls for More Regulations for ‘Abusive’ Crypto Market Governments are still […]Powered by WPeMatico