On Nov. 16, Switzerland’s primary stock exchange, SIX Swiss Exchange, announced that it will list the world’s first multi-crypto-based exchange-traded product (ETP). Exchange-traded products (ETP) are derivatively priced securities that are traded on a national securities exchange. Their pricing derives its value from other investment instruments, most commonly found in the form of commodities, stocks and indexes. The first global multi-crypto ETP has the backing of Swiss startup Amun AG and will be listed under the ticker symbol HOLD. According to the announcement, the ETP will track five of the sector's biggest cryptocurrencies: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin …

This article has corrected misinformation about the claim filing procedure for investors in Envion in the case of liquidation. Our editorial team would like to apologize for the error. The cantonal court of Zug, Switzerland has shut down cryptocurrency mining firm Envion AG for an alleged unauthorized Initial Coin Offering (ICO), German news outlet Handelsblatt Global reported Nov. 28. Envion was established in Switzerland by Michael Luckow and Matthias Woestmann as an off-grid mining company that claims to use decentralized, clean energy like hydroelectric and solar to power its mobile mining units. Envion reportedly raised around $100 million through an …

A Swiss food manufacturer has become the “first” in Europe to use the Ethereum (ETH) blockchain to track fish products, a press release confirmed Nov. 28. Gustav Gerig AG, which has operated since 1923, partnered with global tuna marketing company Pacifical c.v. to allow clients to certify the origin of its tuna range using blockchain technology. Tins in the range will soon sport a QR code that consumers can scan in order to find out information such as the production date, type of tuna, and even the boat used to catch it. The blockchain implementation is being provided by Thailand-based …

Al Hilal Bank, based in Abu Dhabi, the United Arab Emirates (UAE), has announced it has completed “the world’s first sukuk transaction” with the use of blockchain technology, Reuters reports Nov. 26. Sukuk, a legal instrument also known as “sharia compliant” bonds, allows investors to generate returns without infringing on Islamic law. Reuters notes that Abu Dhabi’s Al Hilal Bank has used the distributed ledger technology (DLT) to “to sell and settle in the secondary market a small portion of its $500 million five-year sukuk,” adding: “Al Hilal Bank is aiming to transform the sukuk market through embracing blockchain and …

Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link. Top Stories This Week KPMG Report Notes That Crypto Is a Big Deal, But Needs Institutional Investment Netherlands-based “Big Four” auditor KPMG released a bullish report on crypto this week, arguing that institutional investors must join the industry for it to “realize its potential.” The report, titled the “Institutionalization of Cryptoassets,” explains how insitututional investors can enter …

The national railway company of Switzerland has completed a proof of concept (PoC) of a “self-sovereign” blockchain-based identity management system, according to a press release shared with Cointelegraph. Swiss Federal Railways’ (SBB) product was developed by Linum Labs, a Switzerland-based firm focused on building decentralized systems, deploying Ethereum-based identity management protocol uPort, which was developed in part by blockchain incubator ConsenSys. According to the release, tests of the blockchain-based credential management system – which is meant to be used by workers at the transport company’s construction sites – were carried out from May to November of this year. The project …

Switzerland's principal stock exchange SIX Swiss Exchange will list the world’s first multi-crypto-based exchange-traded product (ETP) next week, the Financial Times (FT) reported Saturday, Nov. 16. Backed by the Swiss startup Amun AG, the first global multi-crypto ETP will be listed under index HODL, and will track five major cryptocurrencies: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). According to the article, each cryptocurrency will acquire a certain market share within the upcoming ETP, with Bitcoin accounting for around half of the ETP’s assets. The rest are set to be divided in fractions, with 25.4 percent …

Digital exchanges based on blockchain technology will completely replace traditional ones in ten years, Thomas Zeeb of Swiss leading stock exchange SIX told Reuters Wednesday, Nov. 14. “The existing system could be completely replaced by the digital exchange in about 10 years,” said Zeeb, who is leading the securities and exchanges department at SIX. “The moment that brokers, banks, insurance companies and big asset managers really see the cost advantages [of blockchain], they’ll move relatively quickly,” he further added. Zeeb talked to Reuters in the wake of the launch of SIX’s own digital exchange (SDX), scheduled to start working in …

Swiss-based Transoil International and Solaris Commodities have conducted a blockchain pilot transaction of Black Sea wheat, S&P Global reports Nov. 12. Both companies are involved in the trading of international agricultural commodities like milling wheat, vegetable oil and flour. The two firms completed the pilot using the blockchain-based agri-commodities trading and financing platform of Swiss startup Cerealia. Transoil and Solaris completed a sale for a 25,000 metric ton shipment of 11.5 percent protein Black Sea wheat on a FOB-loading port basis from the Russian port city of Novorossiysk. This is reportedly the first blockchain-based trade deal of Black Sea wheat, …

The CEO of Swiss startup SEBA Crypto AG said in an interview that five “large asset managers” from both Germany and abroad have shown interest in their cryptocurrency bank, Swiss financial media outlet Cash reports Nov. 12. Back in September, the company had raised $103 million to set up a bank offering cryptocurrency-related services. At the time, CEO Guido Bühler had noted that the bank sees itself as a bridge between cryptocurrency assets and the traditional financial world. In the November interview, Bühler noted that SEBA Crypto AG expects to receive a banking and securities dealer license from Swiss financial …

The Swiss Financial Market Supervisory Authority FINMA has advised banks and other financial institutions to estimate risk coverage for cryptocurrencies at 800 percent of current market value, Cointelegraph auf Deutsch reports today, Nov. 5. Major local news portal Swissinfo reportedly saw a copy of a confidential letter from FINMA to the Swiss Association for Audit, Tax and Fiduciary (EXPERTsuisse), which explains the watchdog agency’s stance on capital buffers for crypto assets. In the letter, FINMA recommends financial service providers to allocate a flat risk weight of 800 percent for "to cover market and credit risks, regardless of whether the positions …

On October 20, The Bank of Japan’s (BOJ) deputy governor, Masayoshi Amamiya, repeated his negative stance towards central bank-issued digital currencies (CBDC), claiming that such digital currencies are unlikely to improve the existing monetary systems. The concept of CBDC, or national cryptocurrencies, has attracted many governments across the world. Some of them have already rolled out their virtual currencies, some keep researching their economical impact, while others — like Japan — have decided to dismiss the idea altogether. Here’s what the concept entails, and why major governments choose to implement or deny it. What’s a CBDC? CBDCs, or national digital …