According to Cointelegraph, Hypothekarbank Lenzburg, a regional Swiss bank with over $7 billion in assets, has joined the Central Securities Depositary of the crypto exchange SDX. The bank will become the sixth member of SDX, alongside Berner Kantonalbank, Credit Suisse, Kaiser Partner Privatbank, UBS, and Zürcher Kantonalbank. All of these companies are based in Switzerland, as is SDX's parent company, SIX Group, which is headquartered in Zurich.
By joining SDX's Central Securities Depositary, Hypothekarbank Lenzburg will gain the ability to trade various digital securities types, including Digital Bonds and Digital Equities, on the blockchain-based platform. Marianne Wildi, CEO of Hypothekarbank Lenzburg, stated that the SDX membership marks a significant step in advancing the bank's presence in digital assets and that their offering should include the possibility of listing digital value rights on a trusted trading venue.
Switzerland is leading the adoption of crypto as it expands its friendly regulatory environment. In April, PostFinance, a retail bank fully owned by the Swiss government, partnered with cryptocurrency bank Sygnum to offer its customers a range of regulated digital asset banking services. In May, Swiss Post issued a new crypto stamp iteration featuring physical and nonfungible token versions integrated with artificial intelligence technology.
