Swiss digital bank Sygnum Bank will provide Cardano staking services

[Swiss digital bank Sygnum Bank will provide Cardano pledge service] On August 2, Swiss digital bank Sygnum Bank announced that it has expanded its bank-level pledge service to include Cardano (ADA). Sygnum's pledge service is fully integrated with its banking platform, through Segregated wallets, secure private key management, and multi-layered security infrastructure ensure institutional-grade security.

Other news:

Head of the Swiss Innovation Center: DeFi needs to instill more trust: Jinse Finance reported that Morten Bech, head of the Swiss Innovation Center, wrote in an article that DeFi needs to instill more trust. Today, cryptocurrency insiders are exploiting users’ inexperience that traders predict sales to manipulate prices.

Morten Bech’s views are echoed by the International Organization of Securities Commissions (Iosco), a group of national regulators including the U.K.’s Financial Conduct Authority that is seeking to develop policy for DeFi.

Iosco Secretary General Martin Moloney stated that our aim is to develop a basic, internationally applicable framework based on our principles and recommendations to manage the activities of cryptocurrencies and digital assets that mimic financial products. So far, cryptocurrency regulation has often involved taking existing rules that apply to, say, banks and applying them to their more recent Web3 equivalents, such as cryptocurrency exchanges or wallet providers. [2022/9/8 13:17:36]

Bitcoin Capital launches active-ethexc management ETP in Switzerland, providing exposure to Bitcoin and Ethereum: News on December 2, Bitcoin Capital, a subsidiary of the Swiss investment management company FiCAS, announced on Thursday that it has listed active-ethexc management on the SIX Swiss Exchange An exchange-traded product (ETP) that provides exposure to Bitcoin and Ethereum. This ETP is designed to combat the inherent price volatility of crypto assets through active-ethexc management. Investors will be able to access the product through their bank or brokerage, the same way they would invest in stocks or bonds, Bitcoin Capital said. [2021/12/3 12:47:18]

Diem moved its main business from Switzerland to the United States: Jinse Finance reported that the Diem Association announced that its wholly-owned subsidiary, Diem Networks US, has established a partnership with Silvergate Capital Corporation. Under this partnership, Silvergate Bank will be the exclusive issuer of the Diem USD stablecoin and will manage the Diem USD reserves. The Diem Association also announced a strategic shift to the United States, transferring Diem's main operations from Switzerland to the United States to simplify the Diem distribution plan. As a result, Diem will withdraw its application for a payment system license from the Swiss Financial Market Authority (FINMA), as a FINMA license is not required under the new model. Silvergate is a bank chartered in California and a member of the Federal Reserve, while Diem Networks US will register as a money services business with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network. [2021/5/13 21:56:16]