A Swiss mortgage bank Hypothekarbank (Hypi) has made a partnership with Swiss crypto asset manager TokenSuisse. With the help of partnership, they will be expanding the service offerings of the bank to blockchain and cryptocurrency firms. The development news was revealed by the bank on their official twitter account and also in a press release of TokenSuisse on March 25.
The Swiss mortgage bank Hypi Lenzburg is been run by the CEO Marianne Wildi, who is a former programmer and had first launched the lending services of the bank in the month of June 2017. In order to support the cryptocurrency and blockchain firms, an important step in a national situation where the support of the bank to the emerging industry is a distressful issue has been taken.
TokenSuisse AG is basically an investment advisory firm that is powered by cryptocurrency and blockchain and is also an authorized associate of TokenPay which is a crypto-fiat payment firm. The report stated that the firm alleged that it has launched the first international multi cryptocurrency asset certificate of the world, succeeded by a certificate of privacy coin in February.
The latest reports said that in the month of January, the Hypi Lenzhburg has sealed an agreement with the Seba, a Swiss crypto-based bank which will allow for executing the decentralized software of Seba within the core traditional banking system of Hypi, Finstar. The collaboration will also allow the Swizz crypto bank Seba to use Finstar to process and store the transactions which were made by using cryptocurrencies and also by using blockchain related products.
The bank also informed the media that the bank after entering a partnership with TokenSuisse is planning to advance the current models of blockchain and cryptocurrency.
Seba -a Swiss crypto bank is keenly waiting to receive a banking and securities license from the Swiss Financial Market Supervisory Authority which is a Swiss financial regulator. The license is expected to be obtained by the mid of 2019. Once if it is been verified and confirmed, then the license will authorize financial institutions to carry their crypto related trading lawfully and even to make investments with different banks and investors.