Switzerland: Mortgage bank partners with Crypto Asset Manager

Hypothekarbank (“Hypi”) Lenzburg, a Swiss mortgage bank, has partnered with TokenSuisse, a Swiss crypto asset manager, to expand the bank’s service offerings for crypto and blockchain firms. TokenSuisse released a press release on March 25.

The bank is headed by CEO Marianne Wildi who is reportedly a former programmer. He first launched the bank’s lending services support for crypto and blockchain firms in June 2018.

TokenSuisse AG is a Zug-based crypto asset and blockchain investment advisory firm. It is also an official partner of the crypto-fiat payments firm, TokenPay. The firm claims to have launched the world’s first global multi-crypto asset certificate, followed by a privacy coin certificate this February.

The bank is looking to further its current offerings in blockchain and crypto in partnership with TokenSuisse, according to media reports.

In January this year, Hypi Lenzburg signed an agreement with Swiss bank Seba that allows for the implementation of Seba’s decentralized software into Hypi’s core traditional banking system, Finstar. As per the partnership, Seba is allowed to Finstar to process and store transactions made with cryptocurrencies and other blockchain-based products.

In the first half of 2019, Seba is expecting to receive a banking and securities license from Swiss financial regulator, the Swiss Financial Market Supervisory Authority. The license will allow the bank to legally conduct crypto trading and investments with other banks and investors if confirmed.

Switzerland seems to be taking all steps necessary to give cryptocurrency the push they require in integrating with the traditional economy. Exchanges are legal and the country has a remarkable progressive stance towards cryptocurrencies.

Switzerland might be the first nation to have its bank directly engage with cryptocurrencies. In February, Julius Baer partnered with Seba to offer its clients cryptocurrency storage, transactions and investment solutions.

This article was originally sourced from CoinTelegraph.

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