Hypothekarbank Lenzburg, a local Swiss bank with over $7 billion in assets, joined Six Digital Exchange (SDX) as the sixth Swiss bank.
Other Swiss banks, including Berner Kantonalbank, Credit Suisse, Kaiser Partner Privatbank, UBS, and Zürcher Kantonalbank, have been integrated into SDX’s parent company, Six Group.
After joining SDX’s central securities repository, Hypothekarbank Lenzburg is now able to trade digital securities, including bonds and stocks.
“The SDX membership marks a significant step in advancing in our bank’s presence in digital assets. Beyond token issuance and custody, our offering should include the possibility of listing digital value rights on a trusted trading venue”
The most recent development comes after SDX’s non-custodial Ethereum staking service for institutional investors was successfully introduced on August 26 of last year.
The tool enables companies looking to increase their Ethereum staking efforts to generate yields without the normal hassles. In order to help institutional investors integrate future technologies like cryptocurrency and non-fungible tokens (NFTs) securely, SDX introduced SDX web3 Services in June 2022.
Thanks to its friendly regulatory framework, Switzerland is a global leader in cryptocurrencies and blockchain technology. To provide consumers with regulated banking services, the Swiss government-owned consumer banking company PostBank teamed up with the virtual asset bank Sygnum in April.
