Swiss Finance Minister: Singapore and Switzerland Must Corporate in FinTech
The Swiss Finance Minister recently said that as Singapore and Switzerland are not fintech competitors it is important to have a good working relationship between the two countries. Speaking to Channel NewsAsia, Swiss Finance Minister Ueli Maurer, said: It is important to have good relationships and today is a step to network between the two countries … I think it is important that small countries (which) are important financial centres have this network and understand the need to cooperate. He added: We are not competitors (and) we can cooperate together. Benefits of Working with....
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Switzerland’s fintech is failing to make an impact compared to New York, London, and Berlin, according to research, while Luxembourg and the Netherlands are threatening to overtake the country as a European fintech center. Other countries such as China, India, and Singapore are also making headway in the fintech industry. According to research group Statistica, money produced by digital transactions could exceed $2 trillion by the end of 2016, and may well expand to $5 trillion by 2020; however, Switzerland only accounts for $16.5 million. The Global Financial Centers Index has stated that....
Although the draft for these new regulations has yet to be created, the government is hopeful they can shake up the Swiss banking sector. Regulation is always a double-edged blade. On the one hand, guidelines can help legalize new currencies and financial tools. At the same time, these rules can nip innovation in the bud at a very early stage. Switzerland wants to ease up on fintech regulation, which is excellent news for Bitcoin activity in the country. New rules have been proposed by the Swiss government to encourage fintech startups in the country. By easing these regulatory guidelines,....
Fintech Fusion calls themselves “the Swiss Fintech Factory.” The startup incubator wants to provide new businesses in the financial tech sector with opportunities to accelerate their operations. They are calling for applications for their 2015 class, which will be their first. Interested fintech startups will have until June 15 to hand in applications. CoinTelegraph held an exclusive interview with Sébastien Flury, the incubator’s program director. CoinTelegraph: Why do you believe in the future of fintech enterprises? “Banks have to reinvent themselves in the face of technology. They have....
Its national railway service may have already jumped on the bitcoin bandwagon, but Switzerland is taking a slower approach as it looks to regulate digital currencies and fintech. Days after Swiss rail operator SBB made international headlines for the decision to sell bitcoin through its network of ticket kiosks, the country’s Federal Department of Finance (FDF) outlined its plans to regulate fintech with an eye to introduce legislation sometime next year. Key elements include plans for a new kind of license geared specifically toward fintech companies and a so-called regulatory “sandbox”....
The crypto corridor connecting Switzerland and Singapore is firming up, involving many of the usual suspects in banking, custody and trading.