Swiss Banks Innovate Crypto Payment Solutions
Swiss banks are stepping up to offer new solutions for real-time crypto payments in response to recent bankruptcies of American banks supporting cryptocurrencies.
AMINA Bank AG and Sygnum Bank AG Launch Instant Transaction Systems
AMINA Bank AG and Sygnum Bank AG have launched systems for instant transactions to replace the liquidity previously provided by the now-defunct Silvergate Exchange Network (SEN) and Signature Bank’s Signet platform. These platforms, which process both fiat and crypto transactions, aim to improve market liquidity and efficiency.
The urgent need for these solutions is driven by increased institutional demand for crypto transactions.
Improving Liquidity in the Cryptocurrency Market
Recent developments in the cryptocurrency market have seen the introduction of spot Bitcoin and Ethereum ETFs in various regions. Despite these advancements, liquidity issues continue to persist, hindering the efficiency of transactions.
A New Solution for Enhanced Transactions
AMINA Network is set to support multiple fiat currencies and stablecoins, while the Blinc network by BCB Group has added transactions in US dollars to address previous shortcomings. Additionally, Sygnum’s new service utilizes the European MiCA regulation to enhance transaction efficiency, including support for stablecoins like USDC and DAI.
In addition, PostFinance, a Swiss state-owned bank, is also exploring ways to improve liquidity in the cryptocurrency market. These initiatives aim to make trading and transactions in digital assets more seamless and secure for users around the world.
Expanding Crypto Offerings to Include Trading and Custodianship for Assets like Ripple and Solana
As the financial landscape continues to evolve, European and Asian markets are leading the way in innovations in crypto payments. One way companies are staying ahead of the curve is by expanding their crypto offerings to include trading and custodianship for assets like Ripple and Solana.
These steps reflect a broader trend of European and Asian markets being at the forefront of crypto payment innovations, as they adapt to the changing financial landscape.
