Bitcoin falls under $60K as investors' global economic slowdown concerns rise

Fear of a global economic recession continues to drive investors away from risk-on assets like Bitcoin.

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Swiss regulator FINMA targets stablecoin issuers in new proposal

As stablecoins continue to gain traction globally, regulatory initiatives such as FINMAs guidance are likely to influence policies in other jurisdictions.

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Switzerland takes a tech neutral approach to AI regulations

As the world races to regulate high-level AI systems, Switzerland is taking a more tech natural approach, focusing on sector-based use cases while still having a major voice on the global stage.

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B2C2 Joins Swissquote to Enhance Cryptocurrency Trading Liquidity

B2C2, a provider of institutional liquidity for digitalassets, has announced a partnership with Swissquote, an online banking andfinancial services provider based in Switzerland. Swissquote has developed Swissquote Exchange (SQX), acentral limit order book that offers deep liquidity and a secureenvironment for trading cryptocurrencies.

Cryptocurrency Offerings and Liquidity with Integration

Users of SQX can trade, hold, and transfer cryptocurrencyassets within their Swissquote accounts, under the regulation of a Swiss bank.Since its launch in October 2022, SQX has expanded to include over 40cryptocurrencies.

The collaboration between SQX and B2C2 is intended toenhance the digital asset marketplace by increasing trading activity andimproving operational efficiency. B2C2's integration with SQX is expected toincrease the liquidity available to traders on the platform, while SQX offersB2C2 access to a broader range of market participants.

Thomas Restout, Group CEO of B2C2, said: We areexcited tocollaborate with Swissquote, a major financial services providerwith itsextensive client footprint. We are pleased to deepen liquidity on theSQXexchange, providing clients with enhanced trading opportunities andreinforcingour competitive edge in the industry. Together, we are poised tounlock newgrowth avenues through liquidity solutions."

Liquidity Solutions for Diverse Financial Markets

B2C2 provides consistent liquidity across various marketconditions, featuring competitive bid-ask spreads that facilitate trades withminimal price impact. The company also offers efficient settlement and enhancedcapital efficiency through credit offerings.

B2C2s clientele includes major over-the-counter desks, aggregators, banks, exchanges, family offices, foreign exchange brokers, and hedge funds.

Jan De Schepper, CSO of Swissquote, said: SQX has provenitself asthe biggest and strongest digital assets exchange in Switzerlandleading with greater liquidity and faster execution for ourcustomers,strengthening our position as a recognised leader in crypto trading."

"We aredelighted to have B2C2 as a strategic partner at our side. Together, wearecommitted to providing superior execution, enhanced transparency and anevenbetter overall trading experience.

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SDX Breaks through 1 Billion CHF in Digital Asset Transactions

SIX Digital Exchange (SDX) has announced transactionsexceeding 1 billion Swiss Francs (CHF) in digital asset issuance. This wasmarked by the settlement of a CHF 200 million bond by the World Bank, which waspriced on May 15.

The collaboration between the World Bank, Swiss NationalBank, and SIX Digital Exchange highlights a collective effort to advancedigitalization within capital markets.

Leading in wCBDC Settlements

The participation of key issuers, such as The World Bank,UBS AG, various Swiss municipalities, and SIX Group AG, has played a pivotalrole in propelling the Swiss Financial Centre's journey toward digitaltransformation.

Notably, several issuances have been part of the SwissNational Bank's Project Helvetia Phase III, enabling settlements in Swiss Francwholesale Central Bank Digital Currency (wCBDC). Switzerland stands out as thesingular major financial centre facilitating securities transactions settlementin wCBDC.

David Newns, Head of SIX Digital Exchange, said: Ourobjective has always been to seamlessly connect digital and traditionalinfrastructure, mitigating market fragmentation and facilitating the efficienttransition to digital assets. The digital bonds issued to date remain open tothe entire investor base as they are listed, traded and settled both on aregulated digital exchange and traditional market infrastructures.

We are delighted to announce that #SDX is set to surpass 1 billion Swiss Francs in #digitalasset issuances facilitated on our platform. This milestone will be achieved with the #settlement of the CHF 200 million bond by the @WorldBank, priced on 15 May.This achievement

Adopting DTI Standard for the Digital Asset Market

The financial industry increasingly adopts the Digital TokenIdentifier (DTI) ISO standard 24165, a unique identifier for digital assets. SDXhas become the first private Distributed Ledger Technology infrastructureto adopt the standard developed by the Digital Token Identifier Foundation, asreported by Finance Magnates.

DTIs pinpoint digital ledgers, tokens, and cryptocurrencies,aiding regulators in supervising exchanges, ensuring compliance with anti-moneylaundering measures, and monitoring risks.

The European Securities and Markets Authoritypromotes DTI use within the EU's DLT Pilot initiative. SDX's decision toimplement DTI across its products marks a milestone. SDX, a part of SIX SwissExchange, concluded 2022 with a substantial net profit despite marketchallenges.

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Swiss National Bank President Dismisses Calls To Hold Bitcoin As Reserve Asset

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Swiss National Bank Rejects Bitcoin Reserve, Maintains Conservative Strategy

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$31,000 Per Reported Bug Up For Grabs In Swisstronik’s New Bug Bounty Program

PRESS RELEASE. Swisstronik, the layer-1 network for developing scalable dApps which safeguard and maintain privacy for users’ data while remaining regulatory compliant, is excited to announce the launch of its first testnet. Swisstronik Testnet 1.0 is now available, offering dApp developers powerful encryption and enterprise-grade transaction security through Intel SGX technology. Simultaneously, Swisstronik’s first Bug [...]

The post $31,000 Per Reported Bug Up For Grabs In Swisstronik’s New Bug Bounty Program appeared first on Crypto Breaking News.

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Bitcoin V-Shape Recovery Opens Way for $76K Price Target: Swissblock

Bitcoin’s sharp rebound from Tuesday’s plunge indicates a start of a new rally targeting $76,000, Swissblock said.Source: CoinDesk

The post Bitcoin ‘V-Shape’ Recovery Opens Way for $76K Price Target: Swissblock appeared first on Crypto Breaking News.

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Swiss Central Bank President Declares Bitcoin Unworthy as Reserve Asset: Report

The President of the Swiss National Bank has expressed his reservations about Bitcoin becoming a reserve asset. In a recent statement, he emphasized the volatility and lack of regulation surrounding the cryptocurrency as major concerns. Despite the growing interest in Bitcoin as a digital alternative to traditional currencies, the SNB President believes it is not [...]

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Bitcoin Could Drop to $58K as Cool-Off Period Is Imminent, Swissblock Says

Bitcoin nearly doubled in price since late January, but a “counter move seems to be near,” Swissblock analysts said.Source: CoinDesk

The post Bitcoin Could Drop to $58K as Cool-Off Period Is Imminent, Swissblock Says appeared first on Crypto Breaking News.

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Swiss Central Bank President Declares Bitcoin Not a Reliable Reserve Asset: Report

The President of the Swiss National Bank Expresses Concerns about Bitcoin Being Used as a Reserve Asset In a recent statement, the President of the Swiss National Bank raised concerns about the idea of Bitcoin becoming a reserve asset. He expressed skepticism about the viability of the cryptocurrency as a reliable store of value. The [...]

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Meme Coin Rally May Signal Impending Altcoin Season; This Is the Sign to Watch

Bitcoin has led the crypto advance this year, but altcoins could start outperforming soon, analysts said.Source: CoinDesk

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Swiss Central Bank to Launch Wholesale CBDC Soon Says Chairman Thomas Jordan

The Swiss National Bank (SNB) said it plans to issue a wholesale central bank digital currency as a pilot via SIX Digital Exchange, a subsidiary of SIX, an operator of infrastructure for the Swiss and Spanish financial centers. SNB chairman Thomas Jordan said while the Central Bank has not ruled out launching retail CBDCs, the [...]

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SwissOne Shimmer, IOTA Fund: What Does It Mean for Crypto?

SwissOne unveils its IOTA Shimmer Opportunities Fund, helping drive utility for decentralized technology.

Continue reading at DailyCoin.

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Swiss central bank announces plans for wholesale CBDC pilot with ‘real money’: Report

Thomas Jordan, head of the Swiss National Bank, announced the project at a conference in Zurich; bank still feels “prudent” about a retail CBDC, though.

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US explores additional bank support, favoring First Republic's benefit: Report

Despite banking laws stating that remedies should not be aimed at benefiting a specific bank, this change could be structured “in a way to ensure” First Republic benefits, according to unnamed sources.

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US contemplates ‘expanding’ emergency lending facility for banks: Report

United States authorities are reportedly deliberating on extending an emergency credit line for banks, “in ways” which may provide First Republic Bank with a time buffer to address its balance sheet concerns, according to people with knowledge of the situation. In a March 26 Bloomberg report citing unnamed sources, it was reported that U.S. officials [...]

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Swiss Bitcoin App Relai Now Allows Companies To Buy Bitcoin

The new Relai Business over-the-counter service will allow businesses to purchase bitcoin quickly.

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McDonald's in Swiss Town Accepts Crypto Payments in BTC & USDT

Multinational fast food giant McDonald's accepts Bitcoin and USDT as payment methods in the southern Swiss city of Lugano (Lugano). (Read More)

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