Swiss Banks Launch New Crypto Payment Solutions After US Bank Failures

Swiss banks are stepping up with new real-time crypto payment solutions in response to the recent collapses of US crypto-friendly banks.

AMINA Bank AG and Sygnum Bank AG have launched systems for instant transactions to replace the liquidity provided by the now-defunct Silvergate Exchange Network (SEN) and Signature Bank’s Signet platform. These platforms, which handle both fiat and crypto transactions, aim to improve market liquidity and efficiency.

The urgency for these solutions is driven by increased institutional investment and the recent introduction of Spot Bitcoin and Ethereum ETFs in various regions.

AMINA’s network will soon support multiple fiat currencies and stablecoins, while BCB Group’s Blinc network has added US dollar transactions to address previous gaps.

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Despite these advancements, liquidity issues persist. Sygnum’s new service leverages Europe’s MiCA regulation to enhance transaction efficiency, including support for stablecoins like USDC and DAI.

Additionally, PostFinance, a Swiss government bank, has expanded its crypto offerings to include trading and custody for major assets such as Ripple and Solana.

These moves reflect a broader trend of European and Asian markets leading in crypto payment innovations as they adapt to the evolving financial landscape.

Alexander Stefanov