Hypothekarbank Lenzburg, a regional Swiss bank with over $7 billion in assets, became the sixth Swiss bank to join Six Digital Exchange (SDX), per a recent update on Sep. 27.
In addition to SDX’s parent company, Six Group, several other Swiss banks, including Berner Kantonalbank, Credit Suisse, Kaiser Partner Privatbank, UBS, and Zürcher Kantonalbank, have been integrated.
Hypothekarbank Lenzburg can now trade digital securities like bonds and equities after joining SDX’s central securities depository.
“The SDX membership marks a significant step in advancing our bank’s presence in digital assets. Beyond token issuance and custody, our offering should include the possibility of listing digital value rights on a trusted trading venue.”Marianne Wildi, CEO of Hypothekarbank Lenzburg.
The latest development follows SDX’s successful launch of its non-custodial Ethereum staking service for institutional investors on Aug. 26 last year.
Tailored for businesses aiming to scale their Ethereum staking activities, the service allows them to earn yields without the usual complications.
SDX unveiled its web3 Services in June 2022 to assist institutional investors in securely adopting emerging technologies like crypto and non-fungible tokens (NFTs).
Due to its favorable regulatory environment, Switzerland leads the way in crypto and blockchain adoption.
In April, PostBank, the Swiss government-owned consumer banking institution, partnered with Sygnum, a digital asset bank, to offer regulated banking services to customers.