Hypothekarbank Lenzburg, a regional Swiss bank with over $7 billion in assets, has become the sixth Swiss bank to join the Six Digital Exchange (SDX).

SDX, operated by Six Group, welcomes Hypothekarbank Lenzburg as a new member of its central securities depository (CSD), joining other renowned Swiss banks such as Berner Kantonalbank, Credit Suisse, Kaiser Partner Privatbank, UBS, and Zürcher Kantonalbank.

By joining SDX’s central securities depository, Hypothekarbank Lenzburg gains access to a diverse range of digital securities for trading on the blockchain-based platform, including digital bonds and equities.

“The SDX membership marks a significant step in advancing our bank’s presence in digital assets,” said Marianne Wildi, CEO of Hypothekarbank Lenzburg.

“Beyond token issuance and custody, our offering should include the possibility of listing digital value rights on a trusted trading venue. SDX’s ecosystem aligns seamlessly with our goals, and we eagerly anticipate this cooperation.”

Switzerland Leads Crypto Adoption in Europe

Switzerland has established itself as a frontrunner in crypto adoption, with the highest crypto adoption rate among European countries, reaching 21% in 2023.

Switzerland’s crypto-friendly stance has led to the launch of several digital asset initiatives.

In April, PostFinance, a retail bank fully owned by the Swiss government, partnered with digital asset bank Sygnum to offer regulated digital asset banking services to its customers.

Swiss Post introduced a new iteration of crypto stamps in May, integrating physical and non-fungible token versions with artificial intelligence technology.

The Swiss National Bank (SNB) plans to issue a wholesale central bank digital currency (CBDC) on Switzerland’s SIX digital exchange.

Credit Suisse has joined forces with the Swiss Football Association (SFA) to release a non-fungible token (NFT) collection featuring portraits of the Swiss Women’s National Team.

The proceeds from the NFT sale will be donated to the team and organizations supporting female football players.