Zoniqx’s Post

According to the International Monetary Fund (IMF), cryptoassets and associated products and services have grown rapidly in recent years, showing rising linkages with the regulated financial system. BBVA, BNP Paribas, Citigroup, DBS, JPMorgan, and Société Générale are just a few names of a few well-known traditional banks that have already established or are in the process of establishing a cryptoasset offering to their clients. The case study emphasizes on how RegTech tools enable regulatory compliance for cryptoasset by the Sygnum Bank, the world’s first digital asset bank regulated by the Swiss Financial Market Supervisory Authority. The case study extensively covers: - The challenges of crypto asset transaction monitoring. - How RegTech tools address crypto asset transaction monitoring. - Crypto asset monitoring through blockchain monitoring tools - Use case for travel rule protocol - How Sygnum bank solved the cryptoasset transaction monitoring challenges The $2.5 Trillion industry is certainly being adopted in the mainstream with responsible implementations and addressing the inherent challenges, legally. #responsibleinnovations #Emergingtechnologies #DistributedLedger

Tokenized finance is a new financial system that uses digital assets (such as tokenized securities, #stablecoins, #CBDC, staked crypto assets, and non-fungible tokens) to create and exchange financial products. The Swiss Fintech Innovations(#SFTI) paper on the vision for tokenized finance in Switzerland is describing how to create a financial system that is more inclusive, transparent and efficient than the traditional financial system (#TradFi).

Tokenized finance is a new financial system that uses digital assets (such as tokenized securities, #stablecoins, #CBDC, staked crypto assets, and non-fungible tokens) to create and exchange financial products. The Swiss Fintech Innovations(#SFTI) paper on the vision for tokenized finance in Switzerland is describing how to create a financial system that is more inclusive, transparent and efficient than the traditional financial system (#TradFi). The report begins by establishing a framework consisting of contextual as well as main elements of the vision of tokenized finance. The working group of SFTI recommends actions in the following seven fields: -Facilitation of improved #interoperability -Implementation of a functioning and broadly accepted payment leg for #DvP -New ways of collaboration and data management for personal data and identity management (#KYC, E-ID) -Clarification of secondary market environments -Disintermediation awareness by e.g. labelling custody solutions -Increase automation with smart contract based processing -Broad education in the area of digital assets Source: https://lnkd.in/gUhzyfTJ SimplyFI Softech India Pvt. Ltd. India Blockchain Forum #TOKENIZED #ECOSYSTEM

The Swiss Fintech Innovations (#SFTI) working group recommends 7 actions to unlock #tokenizationofassets #assettokenization development: -Facilitation of improved #interoperability -Implementation of a functioning and broadly accepted #payment #leg for #DvP -New ways of collaboration and #datamanagement for #personaldata and #identity management (#KYC, #eID) -Clarification of #secondarymarket environments -Disintermediation awareness by e.g. labelling #custody solutions -Increase #automation with #smartcontract based processing -Broad #education in the area of digital assets

The Swiss Fintech Innovations (#SFTI) working group recommends 7 actions to unlock #tokenizationofassets #assettokenization development: -Facilitation of improved #interoperability Doreen Bogdan-Martin Piyush Goyal #IndianAGENT -Implementation of a functioning and broadly accepted #payment #leg for #DvP -New ways of collaboration and #datamanagement for #personaldata and #identity management (#KYC, #eID) -Clarification of #secondarymarket environments -Disintermediation awareness by e.g. labelling #custody solutions -Increase #automation with #smartcontract based processing -Broad #education in the area of digital assets

Hypothekarbank Lenzburg, boasting $7 billion in assets, just became the sixth member of Six Digital Exchange (SDX)! 🎉💼 Joining Swiss elites like Credit Suisse and UBS, Hypothekarbank Lenzburg AG is all set to trade various digital securities on the blockchain! CEO Marianne Wildi is thrilled, calling it a "significant step in advancing our bank’s presence in digital assets!" 🚀🌐 Switzerland isn't just chocolates and the Alps! It's pioneering in crypto with a friendly regulatory wink. Even Postbank Unternehmensbank, owned by the Swiss government, is diving into digital assets with their crypto stamp iteration featuring physical and nonfungible token versions, which were issued in May! 💡🏔 Swiss cantonal banks are rolling out their crypto offering, too 😜 Exciting times are ahead of us! (📷 Cointelegraph)

The crypto industry is on the cusp of achieving much-needed regulatory clarity as two landmark bills make significant progress. Fit21 (Financial Innovation and Technology for the 21st Century Act), advanced through the House Financial Services Committee. Fit21 addresses various aspects, including the governance of U.S. crypto exchanges and the potential transition of digital assets from the SEC's authority to the CFTC. The Stablecoin bill, known as the Clarity for Payment Stablecoins Act, is also under consideration, and if it progresses positively, it could significantly reduce the regulatory uncertainty looming over the industry. The Act recognizes several regulatory paths for approving and regulating stablecoin issuers while ensuring robust protections for consumers through the creation of a uniform federal floor for payment stablecoins. The path to becoming law for these bills may not be without challenges, but with current support and momentum, positive changes could be just around the corner. We remain focused on building products utilizing blockchain technology to enable merchants and consumers to engage in transactions in a secure, compliant, efficient, and fast manner. Regulatory clarity is the main component to drive growth of this exciting industry. #cryptoregulation

Great news and analysis, thanks for sharing Alexander E. Brunner. I concur with your view that it takes a lot of coordination and a step by step approach to build the ecosystem for digital assets. And it helps when big institutions propose and propel frameworks that have to fit with already running initiatives such as Swiss National Bank‘s wholesale #cbdc #web3 #digitalassets

Massive News in the World of #Crypto 😳 🇩🇪 Deutsche Bank, the $1.4 TRILLION banking giant, partners to offer #Bitcoin    custody for institutions 🔥 The Announcement: 👉 Deutsche Bank has teamed up with Taurus, a Swiss #crypto startup, to create services for digital asset custody and tokenisation. About Taurus: 👉 Taurus is known for cryptocurrency custody. 👉 The partnership will see Deutsche Bank utilising Taurus’ technology for managing #crypto, tokenized assets, and other digital assets. 3️⃣ License Application: 👉 Deutsche Bank applied for a #crypto custody license with Germany’s financial regulator, BaFin, back in June. 👉 Their interest in digital asset custody was first highlighted in a 2021 World Economic Forum report. Why this Matters: 👉 Germany has introduced rules for crypto asset custody, and Europe is working on the Markets in #Crypto-Assets regulation (MiCA). 👉 These regulatory developments give financial institutions clearer guidelines to engage with digital assets. Investment Details: 👉 Earlier this year, Deutsche Bank became one of the investors in Taurus during its $65 million Series B funding round. 👉 Other major participants included Credit Suisse, Arab Bank Switzerland, and Pictet Group.

Ripple, a key player in the rapidly expanding world of decentralised finance (DeFi), envisions significant growth as the industry is projected to reach USD 601 Billion by 2032, according to Emergent Research. Ripple anticipates that the groundbreaking compliance for decentralised finance in 2024 will be a pivotal moment, driving further advancements in blockchain applications within the finance sector. Join Katrin Koller, Head of Custody Product at Ripple, for an insightful panel discussion titled: 'The Integration and Impact of Emerging Technologies' at QUBE Events' 17th NextGen Payments & RegTech Forum. Get ready for a breakthrough year as thought leaders spearhead the integration of blockchain applications in finance. Join us at the forefront of innovation! Reserve your seat now to stay ahead in the evolving payments landscape! Date: 7-8 March 2024 Location: The Marriott Hotel in Zurich, Switzerland To Register and access the Agenda: https://bit.ly/3R7idg5 For more information on registration and group discounts, please contact: info@qubevents.com #qubevents #npf #ceo #finance #fintech #conference #networking #speakers #Switzerland #Zurich #payments #regtech #forum #regulatory #nextgen #financialservices #aml #joinus #compliance #trends