Dear swiss and swiss-based steemians,

How have you been?

We are back with some news from the cryptocountry.

According to:
https://www.financemagnates.com/cryptocurrency/news/russian-sberbank-establish-crypto-exchange-zurich-switzerland/
the largest bank in Russia: Sberbank, is planning to open a cryptocurrency exchange in Switzerland!! In Zurich to be precise. The decision was taken for 2 reasons:

1. to bypass the Russian laws
2. to serve a strongly increasing demand from the banks' clients: investing in cryptocurrencies

Once the Swiss subsidiary of Sberbank (Sberbank Switzerland AG) will be open, they will build from scratch the trading infrastructure.
Apparently, at start they will open trading activities only to a few clients, not to every one given the high risk nature of those investment instruments.

This is the first time that a major foreign bank establishes a crypto firm in Switzerland.

Would Sberbank be the first and the last? highly doubt it, actually we all believe this is just the beginning.

When institutional money will start flowing into the crypto market, then it will become fun, to say the least. Capital will flow in and boost market capitalisations.

For Switzerland this is again another positive news, more jobs will be created, we do not know yet how many, but we can almost certainly say that, Sberbank is setting the trend and more institutions are likely to open shops in our beautiful cryptocountry hence creating even more employment, wealth hence more innovation.

• In which industry do you work?
• Are you looking to enter the Fintech industry?
  Let us know what do you think

Resources:

• FinanceMagnates
• New Europe
• Picture from Pixabay

Tiptop