Swiss cryptocurrency financial firm Amun AG has gained permission to offer its products to retail clients in the European Union. In a press release issued on Dec. 10, Amun confirmed it had received approval for a base prospectus it filed with Sweden’s finance regulator, the Swedish Financial Supervisory Authority (SFSA). Amun praises supportive Swedish regulations Following regulatory approval, the firm can now market its various exchange-traded products (ETPs) to retail clients throughout the EU. “We recognise that the regulatory framework in Sweden has been supportive of such initiatives and we welcome its deliberation,” Ophelia Snyder, president of Amun, commented in …

San Francisco-based cryptocurrency exchange Kraken is adding support for its latest fiat asset, the Swiss franc (CHF). According to a blog post on Dec. 5, Kraken said that in collaboration with Liechtenstein-based Bank Frick, the Swiss franc will join the roster of fiat currencies that Kraken already supports, namely the United States dollar (USD), the Canadian dollar (CAD), the euro (EUR), the British pound sterling (GBP), and the Japanese yen (JPY). The Kraken team further revealed that CHF trading begins on Friday, Dec. 6, and that it will roll out trading pairs between the Swiss franc and Bitcoin (BTC) and …

Nasdaq-listed WisdomTree has launched a physically-backed Bitcoin exchange-traded product (ETP) to be listed on Switzerland's principal stock exchange, SIX Swiss Exchange. In a news release published on Dec. 3, the asset manager revealed that online Swiss bank Swissquote will serve as a custody partner for the product, which is being listed at a total expense ratio of 0.95% under the WBTC ticker. Bitcoin “not a passing trend” Targeted at professional and institutional investors, the ETP provides exposure to Bitcoin without the need to store private keys or have a thorough grasp of blockchain financial infrastructure. The ETP is physically-backed by …

The Federal Council of Switzerland — the country’s executive governing body — has called for a better regulatory framework for blockchain and distributed ledger technology (DLT) in the country. According to an official announcement released on Nov. 27, the Federal Council adopted a dispatch explaining its priorities for improving blockchain and DLT legislation. The proposal targets legal certainty in the sector, as well as eliminating barriers for blockchain-based applications and reducing the risk of abuse. The Council thus revised a report initially released in December 2018 and submitted a range of proposed amendments to a series of federal acts covering …

The past week has seen a range of crypto- and blockchain-related developments in the German-speaking world. The German Federal Ministry of Justice and Consumer Protection is planning to sponsor a research project of the University of Marburg on legal issues surrounding blockchain technology, the Swiss online bank Swissquote began offering its customers the trading of a real estate portfolio-covering security token, and an Austrian research project provided proof of profitability for blockchain technology-based decentralized marketplaces. Below is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph auf Deutsch. The German Ministry of Justice donates …

Switzerland-based crypto exchange ShapeShift has launched zero-fee trading and its loyalty token FOX. ShapeShift founder and CEO Erik Voorhees announced the news on Twitter Nov. 20, noting that zero-commission trading on the platform is enabled by the newly released FOX token. According to the executive, zero-fee trading solves two major problems of non-custodial exchanges — illiquidity and high price of services. In order to trade at a zero-fee rate, ShapeShift customers will have to hold the Ethereum-based ERC-20 FOX tokens, Voorhees explained, stating: “The model is simple: hold FOX & you trade at a 0% commission rate. If not, you …

German securities marketplace Deutsche Boerse and Swiss state-run telecom Swisscom have settled securities transactions using different blockchain protocols. In a joint proof-of-concept (PoC) involving a number of banks, the participants exchanged money in the form of cash tokens against tokenized shares, Deutsche Börse officially announced on Nov. 19. Based on blockchain technology, the joint PoC intends to show the potential of new technologies in the financial services sector and maintain Germany and Switzerland’s expertise in the digital asset ecosystem. Three major Swiss banks participated in the PoC The PoC involved major Swiss banks, including the fourth-largest Swiss bank Zuercher Kantonalbank, …

Switzerland’s main stock exchange SIX has listed a Tezos-based exchange-traded product (ETP) that enables investors to generate passive income. Traded under the symbol AXTZ, the product is issued by fintech Amun AG in partnership with the Tezos Foundation. It went live for trading on Nov. 5. Passive yield According to an overview of the instrument, the ETP’s investment objective is both to provide exposure to the performance of Tezos while generating additional yield for investors through so-called “baking rewards.” Similarly to other proof-of-stake (PoS)-based blockchains, Tezos investors are able to passively earn a form of “interest” by staking — depositing …

Swiss crypto broker Bitcoin Suisse is partnering with European payment and transaction services provider Worldline to boost crypto payment acceptance in the country. The firms have signed a letter of intent for a partnership to provide crypto payment services to Swiss merchants and consumers in-store and online, Bitcoin Suisse announced on Nov. 8. 85,000 merchants across Switzerland The new system will be available for the 85,000 Swiss merchants currently using Wordline’s nationwide payments infrastructure, dubbed SIX Payment Services. Augmented with cryptocurrency payment capabilities, the traditional network will thus be evolved to promote the use of the new asset class at …

Switzerland-based cryptocurrency bank SEBA has launched its services for professional investors and enterprise clients, according to an official news release published on Nov. 12. As reported, SEBA Bank AG (formerly SEBA Crypto AG) is a fully-regulated institution, having secured a banking and securities dealer license from the Swiss Financial Market Supervisory Authority (FINMA) in August of this year. A fully-fledged, regulated crypto bank According to the announcement, the bank’s services are now fully operational for a range of prospective clients, including corporates, asset managers and professional private investors. SEBA will seek to attract clients from selected foreign jurisdictions starting in …

The German-speaking world has experienced another week full of exciting developments in the crypto industry, with Germany setting the pace in the European fintech scene, German banks arguing in favor of a digital euro, Austria testing how to trade electricity with blockchain technology, and the Swiss crypto trading platform Sibex securing a $1.8 million investment. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph auf Deutsch. Austria: Pilot project tests local blockchain electricity trade In a pilot project starting in November in Styria, Austria, local energy communities will be able to trade …

Swiss-based cryptocurrency bank Sygnum has received the go-ahead to offer investment services in Singapore. Sygnum: license is “important milestone” In a blog post on Oct. 31, Sygnum, which gained a Swiss banking license in August this year, can now proceed with its first product for the Singapore market. Sygnum was the first Swiss company to win the title of cryptocurrency bank and will target accredited investors and institutions with a multi-manager fund, which will also debut in its home jurisdiction. Long on the cards, the Singapore documentation comes in the form of a capital markets services (CMS) license from the …