Switzerland: Fueling mass Adoption of Crypto?

Adoption of Blockchain tech among traditional institutions is on the rise in Switzerland

Making Blockchain Assets ‘Fully Bankable’?

In an effort to reaffirm its first-mover position in Blockchain banking, Zurich based Falcon Private Bank introduced facilities that enable direct transfer of certain cryptocurrencies for both private and institutional investors. In a statement released to the press, Falcon Private Bank ensures that clients will be able to directly transfer cryptocurrencies to and from segregated Falcon wallets, with the added option of even converting them into fiat currency.

This proposal aims to make Blockchain assets fully bankable. Considering the multitude of global cryptocurrency scams, Falcon Private Bank claims to have developed a process that fully ensures compliance with AML/KYC regulations. This reduces the risk of fraud by a considerable amount.

Swiss Banks to allow cryptocurrency trading and Blockchain asset management

Strategic repositioning of traditional institutions

This is not the first time, Falcon Private Bank has taken critical steps towards the wide-scale adoption of cryptocurrencies and Blockchain technology. In 2017, Falcon was the first Swiss private bank that provided clients with Blockchain asset management solutions, this new proposal comes after cooperation with Bitcoin Suisse AG.

To sweeten the deal, Falcon has a Bitcoin ATM in its headquarters in Zurich, which is open to the public during business hours. This strategic reposition of Falcon Private Bank been approved by Swiss Financial Supervisory Authority-FINMA and demonstrates the benign attitude of regulatory authorities towards cryptocurrencies.

Arthur Vayloyan, Global Head Products & Services of Falcon Private Bank, believes this deal is one of the most impactful in Falcon’s strategic repositioning. He was quoted saying

“We are proud to be the first-mover in the Swiss private banking area to provide Blockchain asset management for our clients. Falcon is convinced that the time is right to enter this nascent market and it is our firm belief that this new product will fulfil our clients’ future needs.”

The facilities being offered by Falcon are likely to invite numerous crypto-enthusiasts and entrepreneurs to its platform.

Falcon has a Company of Other Aspiring Game-changers

Falcon Private Bank is not alone with its crypto friendly banking laws and regulations. Bank Frick, made an announcement last year that it will be trading certain cryptocurrencies for fiat money. The interesting thing here is that Bank Frick is the first Liechtenstein bank to do this. Liechtenstein is a small principality between Austria and Switzerland.

Several other Swiss institutes including Cornerbank, IG Bank, Vontobel, Swissquote and Leonteq are offering clients similar facilities. These facilities being provided by traditional institutions will help the general public make a smooth transition into cryptocurrencies and Blockchain from fiat money and traditional financial systems. If cryptocurrencies are to become a serious global contender that will replace current financial and regulatory systems, mass adoption by the public is the key challenge faced. Hence the steps taken here are critical towards achieving these goals.

From Zug as the CryptoValley to Switzerland as the Crypto nation?

In recent years Switzerland has grown substantially in the crypto market space and is now one of the most attractive Blockchain destinations in the world. According to InWara’s ICO+STO database, there are over two hundred Blockchain companies registered in Switzerland, out of which only 18 have failed to raise sufficient funds, a below average failure rate of a mere 8.4%. In comparison the industry average is 15.5%. This demonstrates the tenacity of the Swiss based-startups.

Top five ICO sectors in Switzerland

Source: InWara’s ICO+STO database

According to InWara’s ICO+STO database, financial services emerges as the dominant sector in Switzerland. This reflects the worldwide market trend observed in ICOs. Financial services are closely followed by allied sectors such as Investment and trading; Fintech.

Crypto-valley Zug

The small canton of Zug used to be known for its manufacturing sectors, but now it’s being dubbed as the crypto valley of the world. Zug is now Headquarters for numerous global companies because of its lucrative taxation laws and regulatory policies on cryptocurrencies and Blockchain technologies.

Top five ICOs in Switzerland in terms of funds raised ($MM)

Source: InWara’s ICO+STO database

According to InWara’s ICO+STO database, Switzerland based Blockchain startups alone raised over $2.5 billion.

These are the top five ICOs to originate in Switzerland. Polkadot network emerges as the dominant player, raising a whopping $360 million. A solid $100 million more than the nearest competitor Hdac, which raised a competitive $258 million. Tezos platform is one of the most anticipated products in the crypto space and the company raised $232 million through the sale of its tokens.

Polkadot network-DOT

Is a heterogeneous multi-chain that is scalable. Polkadot holders have complete control over their protocols, example token holders will be given special privileges which is usually only available to miners like protocol upgrades and fixes.


The platform allows IOT devices to quickly communicate and also provides services such as data storage and micro-payments. The ICO is backed by Hyundai BS&C.


It is a self-governing decentralized Blockchain. Traditional Blockchain networks are prone to forks owing to the inability of the user base to come to a consensus. Tezos believes it can solve this problem with its platform. To get an in-depth analysis of Tezos and its platform check out InWara’s article.

Sirin Labs-SRN

The company is the developer of the ultra-secure mobile Solarin. Sirin Labs aims to bridge the gap between open source consumer electronics and the Blockchain economy. Funds raised by Sirin Labs, according to InWara’s ICO+STO database is in the tune of $158 million. The company aims on using the funds raised to develop the first open source Blockchain smartphone and all-in-one computer.

Bancor network-BNT

The Bancor protocol aims to allow individuals to easily create smart tokens and also convert any token into another, without the need for a second party. According to Inwara’s ICO+STO database, Bancor network was able to raise $153 million.

Most of the ICO leaders in various industry sectors are from Switzerland. This is likely because of the crypto-friendly legal and regulatory framework of the country and also because of its wealthy local population and abundance of technical talent.

Article sourced from Inwara.com


Disclaimer: This article should not be used as an investment or financial trading advice and reflects the personal views of the author. Please conduct careful due diligence before investing in any digital asset. The views, opinions, and positions expressed within guest posts are those of the author and do not represent those of Tokens24. The accuracy, completeness, and validity of any statements made within this article are not guaranteed. Tokens 24 accepts no liability for any errors, omissions or representations. The copyright of this content belongs to the author and any liability with regards to infringement of intellectual property rights remains with them.

About the author

Strategy and Marketing Consultant at InWara Inc.

Published by
Syed Shoeb

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