GenTwo, a Swiss fintech company specializing in Actively Managed Certificates (AMCs) and issuance.swiss, an exchange-traded products (ETPs) provider powered by Apex Group, announced a partnership on June 13. The collaboration aims to expand the range of digital asset investment options available to clients by leveraging the strengths of both companies. As part of the partnership, issuance.swiss will refer all AMC business to GenTwo, while GenTwo will direct its ETP business to issuance.swiss. This will streamline the product-issuance process and increase operational efficiency for clients of both companies, with GenTwo clients being able to issue cryptocurrency ETPs using issuance.swiss’s platform and expertise.
The growing interest in digital assets in Switzerland has led a group of Bitcoin enthusiasts in the country to renew efforts to convince the Swiss National Bank (SNB) to include Bitcoin in its reserves. The group plans to launch a petition for a referendum to amend the country’s constitution, requiring over 100,000 Swiss citizen signatures within 18 months. The SNB is also exploring ways to tokenize financial assets, with chairman Thomas Jordan discussing the bank’s investigation into alternatives to its wholesale central bank digital currency (CBDC). Project Helvetia III, launched in December 2023, involves banks using Swiss franc wholesale CBDC to settle transactions with tokenized bonds on the SIX Digital Exchange (SDX).
Switzerland has emerged as a leading crypto country, with 13 token-related firms valued at $1 billion or more, up from nine in 2022. The Swiss-Liechtenstein cryptocurrency ecosystem now represents 4.8% of all global blockchain investments, a 0.7% increase from the previous year. The country’s “Crypto Valley” in Zug, as well as the cantons of Geneva and Zurich, have attracted a majority of these investments, hosting many of the 35 crypto start-up financing rounds. Zug is home to 512 crypto firms, with Zurich and Geneva housing 289 and 115 companies, respectively. Other Swiss regions like Ticino, Vaud, Bern, Schwyz, Lucerne, and Neuchâtel have also seen an influx of crypto companies, with Liechtenstein gaining traction with 66 active crypto firms.
The partnership between GenTwo and issuance.swiss is expected to further enhance the digital asset investment options available to clients in Switzerland and beyond. By leveraging each other’s strengths, the companies aim to streamline the issuance process for AMCs and ETPs, providing clients with more efficient and diverse investment opportunities in the digital asset space. With the growing interest in digital assets in Switzerland, initiatives like the group of Bitcoin enthusiasts advocating for the inclusion of Bitcoin in the SNB’s reserves and the exploration of tokenization of financial assets by the SNB indicate a progressive approach towards embracing the opportunities presented by blockchain technology and cryptocurrencies in the financial sector.
Switzerland’s status as a hub for crypto “unicorns” and its increasing share of global blockchain investments underscore the country’s position as a key player in the digital asset industry. The presence of numerous crypto firms, particularly in regions like Zug, Geneva, and Zurich, highlights Switzerland’s attractiveness as a favorable environment for blockchain and cryptocurrency businesses. The influx of crypto companies in Switzerland and Liechtenstein reflects the growing interest and investment in the digital asset space, positioning the region as an important destination for innovative initiatives and collaborations in the evolving landscape of blockchain technology and digital currencies.
