The Swiss financial industry traded tokenized investment products

The Swiss financial industry has successfully traded and settled tokenized investment products. For the first time, key players in the Swiss financial industry successfully developed and tested a novel settlement mechanism for tokenized investment products on a public blockchain testnet infrastructure. A smart contract, developed by the Capital Markets and Technology Association (the CMTA), allows for streamlined processes, reduces complexity, raises security, and eliminates counterparty risks from trades. The CMTA’s proof of concept marks a milestone for the Swiss financial industry.

Credit Suisse, Pictet and Vontobel have conducted the proof of concept to issue tokenized investment  products recorded on a public blockchain and traded on BX Swiss, the Swiss regulated stock exchange.

The Capital Markets and Technology Association’s (CMTA) token standard and Taurus’ tokenization technology have been used to issue tokenized investment products. The three processes of the proof of concept – issuance, trading and settlement – took place within hours, whereas in a traditional financial environment they take days.

The proof of concept was developed and carried out under the aegis of the CMTA, with the support of representatives of BX Swiss, Credit Suisse, Homburger, Lenz & Staehelin, METACO, Pictet, targens, Taurus, UBS and Vontobel.

The Swiss financial industry traded tokenized investment products

mercedes.galan

Legalcommunity.ch

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