<img src="https://crypto.news/app/uploads/2023/09/crypto-news-TON-Foundation-launches-in-Switzerland03.png” />
Hypothekarbank Lenzburg, a Swiss regional bank with more than $7 billion in assets, became the sixth Swiss bank to join the Six Digital Exchange (SDX), according to a recent update on September 27.
In addition to SDX’s parent company, Six Group, other Swiss banks have been integrated, including Berner Kantonalbank, Credit Suisse, Kaiser Partner Privatbank, UBS and Zürcher Kantonalbank.
Hypothekarbank Lenzburg can now trade digital securities such as bonds and stocks after joining the SDX central securities depository.
“SDX membership marks an important step in advancing our bank’s presence in digital assets. Beyond token issuance and custody, our offering should include the ability to list digital security rights on a trusted trading venue.”
Marianne Wildi, CEO of Kreditbank Lenzburg.
The latest development follows SDX’s successful launch of its non-custodial ethereum staking service for institutional investors on August 26 last year.
Designed for businesses looking to expand their ethereum staking activities, the service allows them to earn returns without the usual complications.
SDX introduced SDX web3 services in June 2022 to help institutional investors safely adopt emerging technologies such as cryptocurrencies and non-fungible tokens (NFTs).
Due to its favorable regulatory environment, Switzerland is leading the way in cryptocurrency and blockchain adoption.
In April, PostBank, the Swiss government-owned consumer banking institution, associated with Sygnum, a digital asset bank, to offer regulated banking services to clients.
