Derivatives specialist Leonteq has acquired a 10% stake in Swiss stock exchange BX Swiss, paying a “single-digit million amount” for the shares. The investment will allow BX Swiss to benefit from Leonteq’s investment solutions ecosystem, facilitating collaboration with actors in the Swiss financial sector. In return, Leonteq will gain access to the ecosystem of Börse […]
A recent report has shed light on the handling of the Credit Suisse (CS) crisis by the Swiss Financial Market Supervisory Authority (FINMA). The report, titled “Lessons Learned from the CS Crisis,” spans 89 pages and aims to absolve FINMA of any blame in the downfall of the country’s second-largest financial institution.However, the report’s claims […]
Cevian Capital, a well-known Swedish investment firm, has become a major shareholder in UBS, one of the largest banks in Switzerland. The firm has invested 1.2 billion euros in UBS stocks, acquiring approximately 1.3 percent of the bank’s outstanding capital. The investment will be held by Cevian Capital’s various funds.Cevian Capital has high hopes for […]
The long-time president of the Swiss National Bank, Thomas Jordan, reportedly wanted to intervene at Credit Suisse much earlier than previously known. However, his concerns were not heeded. Months before the emergency takeover by UBS in March of last year, Jordan wanted to inject 50 billion Swiss francs of liquidity into the country’s second-largest bank […]
Revolut, a leading fintech platform, will temporarily suspend certain cryptocurrency services for its UK business customers starting January 3, 2024. This decision is in response to the Financial Conduct Authority’s (FCA) crackdown on cryptocurrency advertising and the upcoming enforcement of new regulations on January 8.The suspension will only affect Revolut’s UK business clients, while other […]
Crypto exchange Coinbase has expanded its services in Singapore by announcing support for USD transfers. Retail customers in Singapore can now deposit or withdraw USD using their Coinbase accounts through the SWIFT network. This move is part of Coinbase’s plan to increase its presence in the Singapore market.With the introduction of commission-free trading for US […]
Neobank Revolut will temporarily suspend cryptocurrency purchases on its business platform in the UK starting from the new year. The decision comes as the company aims to comply with new regulations set by the Financial Conduct Authority (FCA) regarding the promotion of cryptocurrencies. While purchasing will be halted, customers will still be able to hold […]
Crypto exchange Coinbase has expanded its services in Singapore by announcing support for USD transfers. Retail customers in Singapore can now deposit or withdraw USD using their Coinbase accounts through the SWIFT network. This move is part of Coinbase’s plan to increase its presence in the Singapore market.With the introduction of commission-free trading for US […]
The Swiss financial regulator, FINMA, is facing criticism and calls for stronger oversight in the aftermath of the Credit Suisse crisis. The regulator is set to release a comprehensive report on the lessons learned, but there are concerns that the focus will be on FINMA itself rather than on Credit Suisse. Since the forced sale […]
The Swiss arm of the Raiffeisen banking group is set to join the SIX Digital Exchange (SDX), the trading platform and central securities depository (CSD). This move is aimed at further establishing Raiffeisen’s presence in the blockchain sector. SDX, which is licensed by the Swiss Financial Market Supervisory Authority (FINMA), operates a trading platform and […]
