{
}
Swiss banks are largely missing out on the cryptocurrency trend, despite a significant portion of the population investing in Bitcoin and Ethereum. While some cantonal banks and Postfinance offer direct purchases, major institutions like UBS and Pictet remain skeptical, limiting their involvement to ETFs. This cautious approach contrasts with the growing interest among younger investors, who often turn to foreign platforms for their crypto transactions.
Wyden has secured $16.9 million in a Series B funding round led by Truffle Capital, aiming to expand its digital asset services for banks, brokers, and exchanges. The company plans to integrate up to 20 new partners by 2025, focusing on markets with stringent regulatory frameworks, while enhancing its workforce and product development, particularly with its Wyden Infinity platform. This investment positions Wyden as a leader in institutional digital asset trading infrastructure, catering to the evolving needs of financial institutions.
Reto Schiltknecht, a former Finma member, emphasizes the need for cantonal banks to assess their risk exposure and develop crisis plans, particularly highlighting the Luzerner Kantonalbank's significant burden on the canton of Lucerne. In contrast, the Berner Kantonalbank poses a lower risk, illustrating the importance of tailored risk analysis for each bank. He advocates for proactive measures, including strengthening capital bases and preparing for potential crises, to ensure the stability of these key financial institutions.
Luzerner Kantonalbank"s share price has underperformed compared to other cantonal banks, prompting political discussions about the Canton of Lucerne potentially reducing its stake from 61.5% to a minimum of 51%. Factors contributing to the decline include a delayed capital increase and a low free float of around 40%. While the government currently plans to maintain its stake, a revision of the ownership strategy is expected by summer 2025.
Thomas Meier, a cantonal councillor, has initiated a discussion regarding the canton’s 51 percent stake in Luzerner Kantonalbank. The Lucerne cantonal government has promptly addressed his inquiries about the bank"s share price, but Meier believes the conversation should continue.
Bernard Kobler, CEO of Luzerner Kantonalbank, emphasizes the implementation of stricter mortgage regulations compared to those set by the National Bank. In an interview with "Finanz und Wirtschaft," he discusses the bank's commitment to maintaining robust financial standards.
Wyden, a Zurich-based digital asset trading company, has raised €15.9 million in a Series B funding round led by Truffle Capital, with participation from PostFinance and others. The funds will be used to expand into new markets and enhance services for banks and brokers, aiming to onboard 20 additional partners by 2025. The company recently launched Wyden Infinity, a cloud-native trading system designed for institutional clients, positioning itself as a leader in digital asset trading infrastructure.
Wyden has secured a €15M financing round led by Truffle Capital, marking the latter's entry into the crypto sector. The platform enables traditional banks to offer crypto services by integrating with multiple exchanges and custodians, aiming to expand its client base from 12 to 32 banks by 2025. With a focus on regions with established crypto regulations, Wyden positions itself as a leader in digital asset trading technologies for institutions.
Wyden, a leading technology provider for institutional trading in digital assets, has secured 14.5 million Swiss francs in a Series B financing round, attracting new investors including Postfinance and SBI-Sygnum-Azimut. Headquartered in Zurich, the company plans to expand its market presence in regions such as the EU, Turkey, and Brazil, aiming to connect with 20 additional banks and brokers while increasing its workforce to 100 employees. CEO Andy Flury expressed confidence that this funding will strengthen Wyden's position as a global market leader in digital asset trading infrastructure.
Luzerner Kantonalbank (LUKB) is set to discontinue its printed customer magazine "Wertpapier" by 2026, shifting to a digital format that emphasizes video content to attract younger audiences. This move aligns with the bank's sustainability goals and reflects broader trends in the banking sector towards digital communication. While the transition is underway, some customers are still awaiting the current issue, and LUKB assures that personal contact options will remain available.
Luzerner Kantonalbank AG
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
wiss banks lag behind in cryptocurrency adoption despite growing investor interest
Swiss Franc
Zug cantonal bank
Raiffeisen Bank
St. Gallen cantonal bank
Thurgau cantonal bank
Lucerne cantonal bank
Luzerner Kantonalbank AG
Revolut
PostFinance AG
VZ Vermögenszentrum AG
Binance
Zurich cantonal bank
Swissquote Group Holding Ltd
BlackRock, Inc.
UBS
Migrosbank
CHE
Mark Haefele
Show more
17:12 21.11.2024
Wyden secures 16.9 million for expansion in digital asset trading infrastructure
Euro
United States Dollar
InCore Bank AG
PostFinance Fonds 3
Baader Bank AG.
Sygnum Bank AG
Luzerner Kantonalbank AG
TUR
CHE
ITA
ARE
DEU
SGP
BRA
FRA
ESP
POL
HKG
Alexander Christen
Alexis Le Portz
Denis Lenz
Andy Flury
Show more
13:20 20.11.2024
cantonal banks face crisis risks requiring proactive measures and assessments
11:29 19.11.2024
Lucerne government debates potential reduction of stake in Luzerner Kantonalbank
10:43 19.11.2024
Discussion on canton stake in Luzerner Kantonalbank initiated by Thomas Meier
09:21 19.11.2024
Luzerner Kantonalbank CEO Advocates Stricter Mortgage Rules Than National Bank
05:21 17.11.2024
Wyden secures 15.9 million euros to expand digital asset trading services
Euro
PostFinance AG
InCore Bank AG
SBI-Sygnum-Azimut Digital Asset Opportunity Fund
Baader Bank Aktiengesellschaft
Banque Delubac & CIE
Luzerner Kantonalbank AG
C3 Venture Capital
FiveT Fintech AG
BRA
CHE
SGP
HKG
ARE
FRA
TUR
DEU
Alexis Le Portz
Andy Flury
Show more
13:27 15.11.2024
truffle capital leads 15 million investment in crypto platform wyden
Euro
United States Dollar
Banque Delubac & CIE
Baader Bank Aktiengesellschaft
Luzerner Kantonalbank AG
InCore Bank AG
BRA
CHE
SGP
HKG
ARE
FRA
TUR
DEU
Philippe Pouletty
Alexis Le Portz
Bernard-Louis Roques
Show more
19:08 13.11.2024
Wyden secures 14.5 million francs to expand digital asset trading platform
Swiss Franc
FiveT Fintech AG
Luzerner Kantonalbank AG
SBI-Sygnum-Azimut Digital Asset Opportunity Fund
PostFinance AG
TUR
POL
ARE
SGP
USA
HKG
CHE
BRA
Andy Flury
Show more
16:31 12.11.2024
Luzerner Kantonalbank transitions to digital format for customer communication
15:20 11.11.2024
Trending
Subcategory
Corporate News
Industry Trends
Stock Market Updates
Industry Mergers & Acquisitions
Workplace Trends
Global Financial Events
Banking Regulations
Finance Mergers & Acquisitions
Retail and Consumer Goods
CEO Changes
Market Analysis and Predictions
Startups & Entrepreneurship
Government Policies
Central Bank Actions
Global Trade Developments
Domestic Politics
Financial Scams and Security
Private Equity Deals
Government Economic Policies
Supply Chain Management
Countries:
Companies:
JPMorgan Chase & Co.
Tesla, Inc.
Barclays PLC
Credit Suisse Lux Digital Healt
Bank of America Corporation
UBS Group AG
Deutsche Bank Money Market PP
The Goldman Sachs Group, Inc.
BNP Paribas SA
Apple Inc.
Wells Fargo & Company
UniCredit S.p.A.
Commerzbank AG
Banco BPM S.p.A.
Banco Santander, S.A.
SpaceXCoin USD
Morgan Stanley
Amazon.com, Inc.
Danske Bank A/S
NVIDIA Corporation
Currencies:
United States Dollar
Euro
British Pound Sterling
Chinese Yuan
Swiss Franc
Indian Rupee
Japanese Yen
Hong Kong Dollar
Danish Krone
South Korean Won
Australian Dollar
Singapore Dollar
Offshore Chinese Yuan
Russian Ruble
Canadian Dollar
Mexican Peso
United Arab Emirates Dirham
Indonesian Rupiah
Turkish Lira
Chilean Peso
People: