According to its official website, Switzerland’s principal stock exchange, SIX, has listed a Ripple (XRP)-based Exchange Traded Product (ETP) today, April 2. As Cointelegraph reported in March, the exchange had already confirmed that it was planning to list the product, dubbed Amun Ripple (AXRP). Hany Rashwan, co-founder and CEO of Amun — the cryptocurrency derivative development company behind AXRP — at the time claimed that this is the first such product on the market: “We can comfortably say that we expect to release the world’s first XRP ETP within the next two months.” Furthermore, Rashwan also told media that the …

A new study shows that the fintech sector in Switzerland continues to grow, while traditional financial institutions are stagnating. The report was published by SwissBanking on April 1. The report dubbed “IFZ FinTech Study 2019” was prepared by the Lucerne University of Applied Studies with an aim to show developments in the fintech industry in 2018 and analyze how banks position themselves vis-avis the fintech industry. Per the report, the Swiss fintech sector showed significant growth in 2018. With 356 active companies by the end of the year, the industry reportedly grew by 62 percent. The sector reportedly registered larger …

Switzerland-based blockchain and cybersecurity firm WISeKey has launched a new blockchain-powered digital identity solution to protect Internet of Things (IoT) devices and their data. The news was announced in a WISeKey press release on March 29. WISeKey focuses on secure authentication and identification solutions for people and smart objects by implementing a cryptographic tool called Root of Trust (RoT). WISeKey IoT claims to have an install base of over 1.5 billion secure microchips across “virtually all IoT sectors” — from connected carts and smart cities to drones and crypto tokens. RoT, the press release claims, is currently embedded in 4 …

Swiss decentralized payment startup TokenPay has acquired a large number of shares in an Australian lingerie giant, a document originally issued on March 19 reveals. According to the filing, TokenPay purchased 1,840,216 shares of Naked Brand Group’s (NAKD) common stock, a 6.2 percent stake. The company has various brands on the market, perhaps the best-known of which is supermodel Heidi Klum’s Intimates line. Explaining the impetus behind its choice of spending and subsequent area for development, TokenPay revealed NAKD had in fact suggested it was curious about blockchain technology. “Why the move into lingerie? $NAKD management has expressed interest in …

The president of the Swiss Confederation, Ueli Maurer, has stressed that establishing regulation for the blockchain sector should be fast and clear. Maurer made his remarks at the CV Crypto Valley Summit in Zug on Wednesday, according to a report from local financial news agency FinNews on March 27. Maurer — who is also the country’s Minister of Finance — addressed the summit just days after the country’s Federal Council launched its consultation process with the Swiss parliament over prospective amendments to federal law that would improve the legal status of blockchain firms. With the Crypto Valley Summit reportedly attracting …

Disclaimer. This article has been updated to reflect that Vietnam is still working on crypto regulation, and that there is no current legal framework for cryptocurrency exchanges. Vietnam’s largest distribution company Linh Thanh Group has signed a memorandum of understanding (MOU) with Swiss blockchain company KRONN Ventures AG to establish a cryptocurrency exchange, according to a press release published on March 22. The collaboration is designed to facilitate the production of digital currency and the creation of a cryptocurrency exchange in Vietnam, to which the companies have supposedly received an appropriate license. According to the press release, the new exchange …

The Swiss Financial Market Supervisory Authority (FINMA) has finished enforcement proceedings against crypto mining firm Envion AG, the authority announced on March 27. As a result of the investigation launched in July 2018, FINMA concluded that Envion’s initial coin offering (ICO), which closed in early January 2018, was unlawful. Envion, a blockchain firm that claims to provide decentralized, clean energy for mobile mining units, faced a liquidation order from the cantonal court of Zug in November 2018 for conducting an allegedly unauthorized ICO. According to FINMA, the ICO raised more than 90 million Swiss francs, or roughly $90.5 million, from …

Swiss mortgage bank Hypothekarbank (“Hypi”) Lenzburg has partnered with Swiss crypto asset manager TokenSuisse to expand the bank’s service offerings for crypto and blockchain firms. The development was announced on the bank’s official Twitter and in a TokenSuisse press release on March 25. Hypi Lenzburg is headed by CEO Marianne Wildi, reportedly a former programmer, who first launched the bank’s lending services support for crypto and blockchain firms in June of last year — a notable move in a national context where banking support for the emerging industry is a fraught issue. TokenSuisse AG is a Zug-based crypto asset and …

Zurich-based blockchain startup B3i Service AG has increased its capital by $16 million in February, according to recently published filings from the Swiss commercial register. B3i Service AG — a blockchain initiative formed by “Blockchain Insurance Industry Initiative” B3i in 2018 and run by several international insurance companies including Munich Re and Swiss Re — has raised about $16 million, having maximized its capital to 22,475,945 Swiss francs ($22.6 million). According to the filings, the company raised 8.27 million Swiss francs ($8.34 million) in the form of cash, while the remaining part of the sum, 7.9 million Swiss francs ($7.9 …

Top Stories This Week Six Global Banks Sign Up to Issue Stablecoins on IBM’s Now-Live Blockchain Network This week, six international banks signed letters of intent to issue their own stablecoins — which will be backed by their national fiat currencies — on IBM’s now-live blockchain-powered payments network, “World Wire.” According to the joint announcement by IBM and Stellar, the World Wire has gone live with over 44 banks on its service, supporting 47 currencies in 72 countries. The IBM project was launched with Stellar in September 2018, and plans to expand the blockchain-powered settlement network to further assets. The …

The Swiss Federal Council has started its consultation period on the adaptation of federal law for blockchain development, according to an official press release published on March 22. By initiating the consultation, the Federal Council intends to improve legal certainty over blockchain applications in order to build a basis for regulatory framework for the industry in Switzerland, particularly in the financial sector. According to the document, the Federal Council’s consultation will last until the end of June 2019. In mid-December 2018, the Swiss Federal Council adopted a report on the legal framework for blockchain in the financial sector, stating that …

Swiss blockchain identity network Concordium has hired former Danish prime minister and NATO secretary general Anders Fogh Rasmussen as a strategic advisor, the company confirmed in a press release on March 20. The Concordium Foundation, the controlling entity behind the Concordium Network that launched a proof of concept in January, aims to tackle blockchain deployment in certain fields with Rasmussen’s expertise. The former politician currently heads Rasmussen Global, a consultancy firm active in diverse fields including democracy, transatlantic relations and security policy. “Given the enormous scope and far-reaching potential of the Concordium Network, it is essential for the Concordium Foundation …