The folks building the next generation of digital money in Switzerland understand the need to collaborate.
Stablecoins, digital tokens pegged one-to-one to the Swiss franc (CHF), in this case, are a prime example. SEBA Bank and Sygnum Bank, the two B2B players that hold banking licenses from the Swiss Financial Market Supervisory Authority and that specialize in digital assets, are both involved in stablecoin explorations, as is the country’s respected crypto conglomerate, Bitcoin Suisse.
“Within the Crypto Valley and here in Switzerland, there’s a very good collaboration going on, where everyone’s working together to try to design a Swiss franc stablecoin which has more or less the same definition or is fully interoperable,” said Matthew Alexander, SEBA Bank’s head of asset tokenization.
“Coopetition” is an ungainly term at the best of times, while “interoperability” is a word that gets bandied about the blockchain world an awful lot. But it appears that’s what’s happening