A top executive at private Swiss private banking Julius Baer says cryptocurrencies are still at the stage of a “Darwinian” process of selection. In an interview with Arabian Business on Oct. 29, Christian Gattiker-Ericsson — Julius Baer’s chief strategist and head of research and investment solutions — argued that: “We are still in this Darwinian selection process where different business models get tried and tested, but we haven’t seen something that was a clear winner.” Crypto still “more like gold than a currency” Gattiker-Ericsson had a further claim about the state of the new asset class, suggesting that many cryptocurrencies …

Recent data suggests that the Swiss blockchain industry is making impressive gains. The latest report by the country’s main industry body, Crypto Valley Venture Capital (CV VC), for example, points to increased valuations and rising employment figures. On releasing the report, CV VC exclaimed that “the summer is back.” But is it really time to start celebrating? According to the report, published in collaboration with the Big Four accounting firm PwC and its partner Inacta, the top 50 blockchain companies have doubled their valuations in the first half of 2019 to $41 billion. Furthermore, it estimates that the Swiss ecosystem …

Swiss crypto broker Bitcoin Suisse has purchased a minority stake of CoinRoutes Inc., a provider of pan-exchange smart order routing and algorithmic trading software. The investment and a new director Bitcoin Suisse announced the news on Oct. 22, specifying that it acquired a $3 million share of CoinRoutes. Niklas Nikolajsen, the chairman of the Bitcoin Suisse Group, became a member of the board of directors of CoinRoutes’s United States and Swiss entities. Bitcoin Suisse had tested CoinRoutes’ Smart Order Routing and patent-pending Consolidated Best Bid & Offer offerings for a year prior to the acquisition to assess the products’ capabilities. …

The German-speaking world has seen another week of events in the crypto industry, with a new survey revealing that 27% of Germans are interested in using Facebook’s planned Libra stablecoin, which has been discussed all over the world since its announcement in June 2019. Despite existing criticism of Libra, global regulators do not plan to ban either Facebook's crypto initiative or other stablecoin projects, the European Central Bank (ECB) director claimed earlier this week. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph auf Deutsch. Lykke launches utility token to bet against …

The Swiss Federal Council is continuing to keep close tabs on global stablecoin projects and their possible opportunities and challenges. Switzerland is seen as very crypto-friendly In a news release on Oct. 16, the Swiss Federal Council stated that it was recently informed about “current opportunities and challenges associated with stablecoins” and that Switzerland will continue to monitor new digital technology developments, such as blockchain and distributed ledger technology. The Federal Council states that, while the mountainous European country is generally seen as very crypto-friendly and “open to innovative approaches in the financial market,” it remains committed to addressing the …

Blockchain technology has proven to be a catalyst of change across a wide variety of industries in the years since Bitcoin’s (BTC) inception in 2009. The subsequent creation of various blockchain projects and alternate cryptocurrencies has shown that blockchain technology can provide innovative changes across a broad spectrum. The worlds of finance, logistics and even law has directly benefited from the various applications of blockchain technology. Another sector that is beginning to embrace its potential benefits is education. Educational institutions are a vital cog in the development of new technology and the industry certainly hasn’t lagged behind in terms of …

A consortium of companies launched a gold-backed token with the DGLD ticker on a Bitcoin (BTC) sidechain. Swiss financial news outlet AllNews reported on Oct. 15 that digital asset managers CoinShares and MKS, as well as wallet service provider Blockchain, announced the launch of the token. Its development took two years and the supply of the token is already worth over $20 million. Meanwhile, the physical gold is held in vaults managed by bullion brand PAMP in Ticino, Switzerland. It is tokenized using the Ocean Bitcoin sidechain developed by blockchain firm CommerceBlock. Sustainability of gold meets Bitcoin’s security The project …

Cryptocurrency exchange Binance has launched a dedicated exchange-traded product (ETP) for Binance Coin (BNB) on a Swiss Stock Exchange. Binance Coin goes after pro investors In a press release seen by Cointelegraph on Oct. 15, Binance confirmed the BNB ETP would trade on the SIX Exchange from Tuesday. The ETP comes via a partnership with Amun, a local Swiss startup that has already brought various ETPs to market. The investment tool, which features physically-backed contracts, is a first for BNB, which is Binance’s in-house cryptocurrency token. In the future, further options could appear for traders. Binance CEO Changpeng Zhao, known …

The Libra Association, the governing body of Facebook’s proposed stablecoin, held its inaugural meeting today in Geneva, Switzerland. According to a report from Reuters on Oct. 14, the consortium reaffirmed their interest in creating a payments-oriented stablecoin that would be balanced by a basket of various, purportedly stable fiat currencies. Libra Association sets rules for governance In addition to explicitly stating their interest in the project, the consortium’s 21 members also formed a five-member board and agreed to interim articles of association which, according to Swiss law, must describe how the organization will be governed. Most major decisions will reportedly …

The German-speaking world has experienced another week full of exciting developments in the crypto industry, with Germany investigating the feasibility of a blockchain-based regional power trading platform, Iota Foundation joining forces with Zühlke to solve engineering problems and the German Central Bank saying that there is no need for a digital euro coin. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph auf Deutsch. Germany promotes research on a regional blockchain power exchange Cointelegraph auf Deutsch reported on Oct. 9, that the Free State of Bavaria in Germany plans to investigate the …

The Swiss National Bank (SNB) and Bank for International Settlements (BIS) have signed an agreement to cooperate on the BIS Innovation Hub Centre in Switzerland. Two major projects According to a news release on Oct. 8, the BIS’s first three innovation hubs will be established in Switzerland, Hong Kong and Singapore. The Swiss center will initially focus on two research projects — integration of central bank digital currencies (CBDCs) into a distributed ledger technology infrastructure, and analysis of the rising requirements for tracking fast-paced electronic markets by central banks. The first project will be conducted as part of a collaboration …

The German-speaking world has experienced another week full of exciting developments in the crypto industry, with Liechtenstein approving the new Blockchain Act, Iota Foundation joining the European climate research community and Germany taking a firm stand against stablecoins. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph auf Deutsch. Liechtenstein approves new Blockchain Act On Oct. 3, the Parliament of Liechtenstein approved the Token and TT Service Provider Act, also known as the Blockchain Act, which aims to improve investor protection, combat money laundering and establish clarity. The new law will make …