Five Blockchain Trends From Switzerland to Watch in 2024

With its crypto-friendly regulations and a strong culture of innovation, Switzerland has established itself as a leading player in the blockchain and crypto industry and has given rise to numerous projects over the years.

Notable is Lugano’s Plan B, where an entire city has integrated Bitcoin into daily life. In addition, the country is home to the Crypto Valley, often viewed as the Silicon Valley for blockchain technologies. The year 2024 holds great promise for developments in this sector. This article explores some of the most exciting projects on the horizon.

1. Established Swiss Banks Enter World of Cryptocurrencies

Regional Swiss banks such as Zuger Kantonalbank, Luzerner Kantonalbank, and St. Galler Kantonalbank as well as the national bank Post Finance have been launching digital assets. Some of them have chosen Swiss crypto banks such as Sygnum or SEBA as partners to delve deeper into the world of cryptocurrencies. They provide the necessary technology and platform, while the traditional banks contribute their regulatory processes.

In doing so, they are responding to changes in the financial industry while ensuring the highest level of security for their customers. Only thanks to the precise regulation implemented by the Swiss government, those actions are now possible. While Zuger Kantonalbank and St. Galler Kantonalbank have already taken the necessary steps, Luzerner Kantonalbank and Post Finance will also offer the opportunity to buy, trade, and custody digital assets in the coming year.

2. CBDC Pilot Project for Digital Swiss Franc

The Swiss National Bank (SNB) has recently launched a pilot project for the introduction of a central bank digital currency (CBDC) for the digital Swiss franc, which will conclude in June 2024. The project focuses on wholesale transactions between SNB and six participating banks by using distributed ledger technology (DLT).

The introduction of a CBDC promises to further enhance the efficiency and transparency of the financial system while addressing potential risks to be eliminated when the pilot phase is over. The high standards of security and regulation maintained by the Swiss National

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Author: BeInCrypto Team

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