Swiss Digital Asset Custody Report 2023

Switzerland is one of the global leaders in the secure custody of digital assets. The report cites the regulatory conditions, the clear, legal framework (e.g. ICO guidelines, DLT law), and the innovation and diversity of our ecosystem as reasons. 

A broad spectrum 
Digital assets and tokens are offered, often supplemented with other services. Business models are also diverse: from a pure B2B bank, such as InCore Bank, to online, private and universal banks, financial market infrastructure or wallet providers. Switzerland has become an attractive location for foreign companies to serve clients with digital wealth services as well. 

Some findings from the report:

• Token
  Often, only Bitcoin and Ether are offered. However, crypto providers offer tokens from different protocols, especially the ERC-20 tokens from Ethereum. Only a few offer custody services for NFTs and security or asset tokens (20.6%).
   

• Type of client
  Half of the respondents serve B2C and B2B clients. Only 26.5% focus exclusively on B2B customers. 

• Licensing
  79.4% of respondents have licensing in the form of an asset management firm, a securities firm, a banking license or a self-regulatory organization.

• Deposit insurance/guarantee
  41.2% of providers offer some form of deposit insurance or guarantee to increase the security of assets in custody. 

• ​​​​​Bankruptcy prevention
  73.5% of respondents hold client funds off-balance sheet. The remaining providers offer self-management solutions or are pure technology providers.
   

Source: Swiss Digital Asset Custody Report 2023
The Swiss Digital Asset Custody Report was published in June 2023 by Alexander E. Brunner, Home of Blockchain.
A total of 34 companies were surveyed, including 15 banks.  

Learn how InCore Bank can support you here. As a regulated B2B transaction bank, act like their own trading and back office team.