Author: Fintechnews Switzerland

Commerzbank and Crypto Finance, a subsidiary of Deutsche Börse, are now offering Commerzbank’s corporate clients in Germany crypto assets. The joint service will initially focus on bitcoin and ether, targeting selected existing Commerzbank corporate clients in Germany. Under this strategic partnership, Commerzbank will manage the custody of digital assets, while Crypto Finance will ensure their secure trading. Combined Expertise for New Digital Markets In November 2023, Commerzbank became the first German universal bank to obtain a crypto custody licence under §1 Abs. 1a Satz 1 Nr. 6 of the German Banking Act (KWG). This licence enables the Bank to offer…

Das ETF-Anlage-Startup findependent hat nun über 15’000 Kundinnen und Kunden für die Geldanlage App begeistern können. Das verwaltete Vermögen stieg gar um 140% auf 150 Millionen Franken. findependent wächst in allen Teilen der Schweiz schnell und in den letzten 12 Monaten besonders rasant in der Romandie und beim weiblichen Teil (+140%) der Anlegergemeinde. Das Durchschnittsalter aller Nutzerinnen und Nutzer der findependent Anlage-App liegt bei 39 Jahren. Starke prozentuale Zuwächse zeigen auch die 18 bis 25jährigen (+160%) und die Altersgruppe der “Neupensionäre” (+224%) rund um das offizielle Rentenalter. Die Summe der verwalteten Vermögen hat per Anfang September erstmals die Marke von…

In 2024, global cryptocurrency activity continues to grow, with developing economies leading in crypto ownership. Adoption of the new asset class is increasing worldwide, driven in part by the launch of bitcoin and ether exchange-traded funds (ETFs) in the US, which has boosted adoption, particularly in institutional transfers and higher-income regions. However, regulatory concerns remain a key obstacle, especially in the US and UK, though Europe is taking steps to address these challenges with the Markets in Crypto-Assets (MiCA) regulation. Global crypto activity on the rise Global crypto activity has continued to rise this year despite market volatility. Between Q4…

Consumers from around the world are increasingly favoring digital payments over cash, fueling a surge in cashless transactions. A new report by Capgemini Research Institute reveals that non-cash transaction volumes worldwide reached 1,411.3 billion in 2023, up 17% from 1,202.8 billion in 2022. Even established regions like Europe experienced significant growth, with non-cash transactions rising by 15.6% between 2022 and 2023 to reach 361.1 billion. The World Payments Report 2025, released on September 10, forecasts sustained growth in cashless transactions. Global digital payments are expected to rise at a compound annual growth rate (CAGR) of 15% from 2023 to 2028,…

To assess the feasibility and potential benefits of a deposit token in Switzerland, the Swiss Banking association members PostFinance, Sygnum, and UBS have signed a Memorandum of Understanding(MoU). This MoU demonstrates their commitment to designing and implementing an initial Deposit Token PoC, focusing on two main use cases in the areas of peer-to-peer payments and digital assets settlement. The MoU outlines the shared objectives of conducting the PoC during the course of 2025 and addresses the resulting inter-institutional technical and legal challenges. The joint work aims to provide a non-binding evaluation for all interested financial market participants on how such…

Der St.Galler Kantonsrat hat am Montag einem Sonderkredit von 10 Mio. Schweizer Franken zum Ausbau der Startup-Förderung zugestimmt. 5.4 Mio. davon werden eingesetzt für den «HSG START Accelerator». Dieser ist ein Gemeinschaftsprojekt der Universität St.Gallen (HSG) zusammen mit dem Switzerland Innovation Park Ost und START Global. Die restlichen 4.6 Millionen Franken sollen die bestehende Stiftung «Startfeld» stärken. Der «HSG START Accelerator» ist als Stiftung organisiert, die im Juni 2024 gegründet wurde. Er soll das führende Accelerator-Programm Europas werden und starke, technologieorientierte Startups auf ihrem Wachstumskurs begleiten. Das Programm bereitet die nationalen und internationalen Jungunternehmen gezielt auf die Wachstumsphase vor. Es hilft ihnen mittels…

Landesbank Baden-Württemberg (LBBW), Germany’s largest state bank, has selected Fenergo, to provide a new cloud-based client onboarding system to enhance its compliance processes. Fenergo will support LBBW’s business in Europe (excluding Germany), the United Kingdom and Asia and thus around 1,500 institutional and corporate customers. With total assets of €324 billion, LBBW is Germany’s largest Landesbank. The bank selected Fenergo to enhance automation of its compliance processes and increase operational efficiencies. This will strengthen the bank’s reputation and competitiveness as part of its international growth. Ruth Ormsby, Managing Director of EMEA at Fenergo, says: “The cooperation with LBBW is an important…

In 2024, crypto venture capital (VC) fundraising is showing signs of recovery, with fund raised so far this year on pace to exceed 2023’s total of US$2.6 billion for 49 funds, new data released by PitchBook show. As of July 30, 2024, US$2.2 billion had been secured across 24 funds and numerous large funds are still actively being raised. This will contribute to larger fundraising totals in the next 12-18 months and reveals a positive outlook for VC fundraising for the rest of the year, the PitchBook report says. Crypto VC fundraising had a tough year 2023 after reaching an…

Siemens has again issued a digital bond in accordance with Germany’s Electronic Securities Act (Gesetz über elektronische Wertpapiere, eWpG). This follows the successful issuance of its first digital bond last year. In issuing the bond, the company is supporting the trials by the Eurosystem and the Bundesbank in particular, that are aimed at testing blockchain technology for the digital financial market. “Since the successful issuance of our first digital bond on a blockchain, we have been rigorously focusing on the further development of this forward-looking technology. By issuing another digital bond, we are demonstrating once again our spirit of innovation…

Over the past 30 years, the number of ultra-high-net-worth individuals (UHNWIs) around the world have surged, driven by the technology industry boom, the expansion of financial markets, real estate price rises, globalization and the growth in emerging market economies. The Global Wealth Report 2024 by UBS attributes much of this increase to entrepreneurial activity. Specifically, UBS’s Billionaires Ambitions Report reveals that two-thirds (65%) of new billionaires  who emerged during 2022 and 2023 accumulated their wealth through organic means. Tech founders, including those behind giants like Google, Amazon and Facebook, have become some of the world’s wealthiest individuals. By creating platforms…

France’s fintech sector is the third-largest in Europe, boasting a robust and rapidly expanding ecosystem. In 2023, the country’s fintech user base surpassed 73 million, generating over US$1.5 billion in revenue, according to data from Statista. France ranks just behind the UK and Germany, which recorded 98.5 million users with US$3.36 billion in revenue, and 84.27 million users with US$2.9 billion in revenue, respectively. Within this dynamic and fast-growing sector, several ventures have emerged as category leaders, recording substantial growth and garnering investor attention. Today, we look at some of France’s most successful and fastest-growing fintech startups in 2024, highlighting…

11 fintechs made it to this year’s  TOP 100 Swiss Startup list, an award organized by Venturelab. The 2024 ranking features in total 100 Startups, Yokoy is once again the highest ranking fintech. Highest fintech newcomer this year is Calvin Risk on rank 44. Of the 11 fintechs 5 were repeats from the 2023 startup ranking and 6 were newcomers. Meet the 11 Swiss fintechs that made the TOP 100 Swiss Startups 2024 list:

True Wealth continues to record strong and consistent growth and reaches another mileston.e The ETF digital wealth management managed CHF 1.5 billion in client assets in its direct business as of 31.8.2024. This corresponds to growth of 47 percent within twelve months. True Wealth, founded over 10 years ago. Client assets under management increased by CHF 481 million within 12 months, which corresponds to growth of 47%. The net inflow of client assets amounted to CHF 365 million, while a positive investment result further boosted growth. The number of client relationships also increased by 48% in the same period (31.8.2023…

Ab dem 4. September 2024 können Kundinnen und Kunden über die Zürcher Kantonalbank Kryptowährungen rund um die Uhr direkt im ZKB eBanking oder ZKB Mobile Banking Crypto handeln. Die Bestände der Kryptowährungen werden dabei in die bestehende Depotsicht integriert. Vorerst stehen Bitcoin und Ethereum zur Auswahl. Crypto Verwahrung Kryptowährungen nutzen die Blockchain. Mit den Chancen und Risiken dieser Technologie beschäftigt sich die Zürcher Kantonalbank schon seit Längerem. 2021 war die Bank beispielsweise an der Emission der weltweit ersten digitalen Anleihe an der SIX Digital Exchange beteiligt, 2023 wickelte sie als Joint Lead Managerin im Rahmen eines Pilotprojekts der Schweizerischen Nationalbank…

Tornado Cash, a decentralized smart contract protocol built on the Ethereum blockchain, was sanctioned in 2022 by the US Treasury’s Office of Foreign Assets Control (OFAC) for its role in laundering over US$7 billion worth of illicit funds since 2019. The sanctions initially led to a drop in Tornado Cash use, weakening its ability to provide anonymity. However, transactions on the platform continue, reflecting the mixed effectiveness of sanctions on decentralized networks and highlighting the challenges in regulating these systems, a new research paper by the Swiss National Bank (SNB) says. The SNB working paper, released in August 2024, assesses…

As of September 2024, Edouard Papaux will take over the role of Managing Director Financial Technology at the  software company Netcetera. Together with the division, he will further develop Netcetera’s services in Financial Technology, Real Estate, and Pensions to successfully accompany customers on their journey into the digital future. Edouard brings a broad background in the financial services sector as well as a proven experience in sales management and leading transformation projects to this role. He has been Head of Business Development & Sales at Viseca Card Services for the past five years, reporting directly to the CEO. Prior to…

The Accelerator Program for Sustainable Finance by Commerzbank in collaboration with Tenity and neosfer selected their first 10 Sustainable Finance Startups.  With Pelt8, also one Swiss Startup made the cut. This initiative aims to evaluate and accelerate a potential collaboration with Commerzbank through an organized and efficient process in Frankfurt. The selected startups represent a diverse range of innovative approaches. Each brings a unique solution in various sustainability areas such as biodiversity/climate data, real estate/renovation management, supplier management, and corporate mobility.  Bettina Storck, Head of Group Sustainability Management at Commerzbank, says: “Sustainability is an integral part of our strategy, our…

Swiss Fintech company Yapeal has appointed Michael Eidel as the new Chief Executive Officer. the same time, the company announced the successful completion of a financing round, attracting new investors and strengthening the board of directors. With the increase in capital, Yapeal can advance its strategic realignment and growth phase with full force. Michael Eidel brings experience from listed financial institutions and technology companies. Most recently, he served as CEO at a financial technology company in Australia, where he drove the strategic repositioning and expansion of the company and successfully introduced an innovative technology platform for corporate clients to the…

The Tenity Zurich Fintech Accelerator Program kicked off this week in Zurich, with 13 startups selected from over 130 applications . This specialized pre-seed program is designed for ambitious founders ready to refine their groundbreaking fintech solutions and accelerate their growth by accessing Tenity’s global network of partners, mentors, and investors. The startups impressed Tenity throughout the application process, which concluded with in-person Selection Days in Zurich. Over the next four months, these startups will engage in an intensive program featuring workshops and events focused on product-market fit, marketing, and fundraising. Besides receiving personalized support from the Tenity team, participants…

The digitalization of payments is progressing rapidly, and cash and cash supply are adapting to market changes. In Switzerland, cash continues to be highly valued by large segments of the population. The decline in the number of bank and post office branches and ATMs is having an impact on the availability of cash. Between 2015 and 2023, the number of bank branches fell from 3,100 to 2,600 and the number of post office branches from 1,500 to 800, while the number of ATMs fell from 7,200 at the beginning of 2020 to less than 6,400 today. In the current situation,…