Sygnum Bank Executive: Swiss Wealth Channels Are Opening Up To Crypto Assets

Season three of the scoop episode 64 was focused on how Switzerland is finally opening its wealthy walls for crypto investment. The episode was recorded virtually with Frank Chaparro and Matthews Imbach, who is the co-founder of Sygnum. Switzerland has recently made some moves to open up its attention and focus on the crypto market. It is currently thought that if 100,000 signatures are collected from all over the country to make crypto an addition to the country’s reserve policy, then definitely institutional investors and traders will be tempted to buy and sell cryptocurrency.

It is Bitcoin which the whole globe seems to be after, but other cryptocurrencies are equally practical and important in their own way. But the trend of the game is currently set on Bitcoin, and Switzerland is no different. Almost every bank in Switzerland has at some point thought of making a move into the crypto industry and doing deals in Bitcoin or other cryptocurrencies, for that matter. There has never been a national policy or regulatory framework of any kind within the country that describes cryptocurrencies, what they are, or should Switzerland be entangled with the crypto market in any possible way.

Many Financial Institutions In Switzerland Are Ready To Adopt Bitcoin

Many institutional investors and financial corporations within the country are now trying to work up some regulatory framework to work with Bitcoin, and they might present various reasons regarding why they want to do it, but the bottom line is that they are interested and they want to make a move nonetheless. Sygnum’s clients are interested not particularly in Bitcoin, but every other real-world asset which is traded on the blockchain, and that includes NFTs, and various other digital propositions, say the execs. If Switzerland continues with the concept of decentralization in the future, then surely the need to drum up a regulatory framework would be imminent. The very trick to working with the crypto market is to define how someone owns something on blockchain and how to transfer it; it is as simple as that. Decentralization is not glittery anymore but has become a very sensitive part of our modern finance, and it is time that global powers change, unite on this front and start to work with the crypto industry.

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