Swiss banks become go-to for digital currency firms as crypto-friendly lenders fail.
Digital currency firms are seeking banking services after the collapse of Signature Bank and Silvergate Capital, two lenders that were friendly to the industry. Some of these companies have turned to crypto-friendly Swiss banks, flooding them with requests for banking services. Switzerland has marketed itself as a crypto hub with solid regulation, and its welcoming stance towards cryptocurrency firms has made it an attractive location for companies seeking a stable operating environment. Swiss banks such as Sygnum and SEBA are seeing an influx of enquiries from international locations, mainly from investors, asset managers, and blockchain projects looking to diversify their crypto investments with a trusted Swiss partner.