swiss – DIGIT INFO

Bitcoin falls under $60K as investors’ global economic slowdown concerns rise

DIGIT — Wed, 14 Aug 2024 18:40:00 +0000

Fear of a global economic recession continues to drive investors away from risk-on assets like Bitcoin.

Swiss Crypto Bank Sygnum Achieves Profitability Amid Rapid Growth

DIGIT — Thu, 25 Jul 2024 06:54:03 +0000

Swiss-based crypto bank Sygnum has achieved profitability in the first half of 2024, marking a significant milestone in the digital asset industry. The bank’s success is attributed to robust growth across its core business segments, including custody, trading, and lending services. With assets under administration surpassing $4 billion, Sygnum caters to clients from over 60 […]

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Hong Kong Partners With Swiss Crypto Valley

DIGIT — Fri, 07 Jun 2024 06:57:03 +0000

Invest Hong Kong, the government department responsible for attracting foreign direct investment and the Crypto Valley Association (CVA) of Zug, Switzerland, have signed a Memorandum of Understanding (MoU) to bolster the fintech ecosystems of both regions. The agreement, signed on June 6, 2024, aims to enhance collaboration, particularly in blockchain and cryptographic technologies. It also […]

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Systemic Swiss Banks Not Ready for Crisis, Regulator Says

DIGIT — Fri, 28 Apr 2023 12:00:13 +0000

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 […]

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Swiss State-Owned Banking Giant Postfinance to Offer Crypto Services

DIGIT — Fri, 07 Apr 2023 11:30:16 +0000

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 […]

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Credit Suisse, UBS, Other Banks Facing Russia Sanctions Probe in US, Report

DIGIT — Sat, 25 Mar 2023 21:30:44 +0000

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 […]

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UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal

DIGIT — Sun, 19 Mar 2023 00:35:04 +0000

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 […]

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Germany’s DZ Bank to Offer Crypto Custody With Swiss Firm Metaco

DIGIT — Sat, 25 Feb 2023 13:00:31 +0000

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 […]

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Swiss Crypto Company Taurus Raises $65 Million From Credit Suisse, Other Banks

DIGIT — Thu, 16 Feb 2023 09:00:36 +0000

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 […]

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Switzerland Less Affected by Crypto Industry Crisis, Study Finds

DIGIT — Sat, 21 Jan 2023 11:30:46 +0000

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 […]

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