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Swiss banks will get direct access to cryptocurrencies

18.05.2021 |

Temenos, a Swiss banking software developer, has entered into an agreement with a startup that provides access to blockchain-based infrastructure, Taurus. The agreement will allow the company to give its customers access to cryptocurrencies and other digital assets.

Switzerland is one of the countries with a fairly loyal attitude to the cryptocurrency market, which makes it much easier to launch innovations in finance. Digital assets on the territory of the country are equated in their legal status to ordinary securities, which allows banks and investment companies to use innovative tools in their activities more easily.

More than 3 000 financial institutions of various levels are clients of Temenos. Thus, after the program’s launch, all users will be able to perform a number of actions with digital assets at once:

  • issue tokenized securities,
  • store, sell, buy, transfer and exchange digital assets within the platform,
  • gain access through a software interface to a dozen existing blockchain platforms.

Earlier it was reported that the Swiss postal operator will start selling cryptocurrencies in its branches, which, together with the current initiative, will make bitcoin and other digital assets more accessible not only to large investors but also to individuals.