Hypothekarbank Lenzburg Joins Swiss SDX for Digital Trading

The sixth Swiss financial institution to join the Six Digital Exchange (SDX) is Hypothekarbank Lenzburg, which is a regional Swiss bank with assets of more than $7 billion.

Berner Kantonalbank, Credit Suisse, Kaiser Partner Privatbank, UBS, and Zurcher Kantonalbank have all been joined by Hypothekarbank Lenzburg, as stated in a news release that was issued on September 27.

All of the businesses are Swiss, and SDX’s parent company, Six Group, is headquartered in Zurich. Following the press release, by joining the SDX’s central securities depository.

Hypothekarbank Lenzburg will gain the ability to trade digital bonds and digital stocks on the blockchain-based platform.

“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.”

According to Marianne Wildi, chief executive officer of Hypothekarbank Lenzburg, Switzerland is at the forefront of crypto adoption as it widens its regulatory friendliness. This was said in a statement made by Wildi.

In April, PostBank, a retail bank in Switzerland that is controlled by the federal government, formed a partnership with Sygnum, a digital asset bank, in order to provide its customers with a range of digital asset banking services that comply with applicable regulations.

In May, Swiss Post issued a new iteration of a crypto stamp with physical and nonfungible token variants that incorporated artificial intelligence technology.