Switzerland Financial News

How much would you need to be paid to cover the risk of the next massive hurricane or earthquake? Investors in the insurance market have a new answer: Way more than they were before. That is the message coming from a key part of that market, catastrophe bonds. “Cat bonds" emerged roughly a quarter century ago as insurance companies scrambled for ways to manage their most extreme risks after Hurricane Andrew’s shocking losses put several out of business.

The top royal for one of the world’s smallest nations heads a multibillion-dollar dynasty dating back almost 1,000 years that’s endured through wars, floods and scandals.

ZURICH (Reuters) -Credit Suisse has shed nearly 13% of its workforce this year, underlining the turmoil at the bank that was taken over by cross-town rival UBS in a state-engineered rescue earlier this year.

Zug, a small Swiss canton nestled by a shimmering lake and framed by the Alps, is famous for its traditional cherry pie - which was particularly loved by actress Audrey Hepburn - and for its blockchain start-up hub.

Project Mariana was developed jointly by three BIS Innovation Hub centres in Switzerland, Singapore and Europe, together with Bank of France, Monetary Authority of Singapore and Swiss National Bank.The project's proof of concept successfully tested the cross-border trading and settlement of hypothetical euro, Singapore dollar and Swiss franc wCBDCs between simulated financial institutions. The DeFi element was provided by an Automated Market Maker, which is a specific type of decentralised exchange to trade and settle spot FX transactions automatically.While not endorsing the use of DeFi, the BIS says these protocols could be used by the next generation of financial market infrastructures facilitating cross-border trading and settlement between financial institutions."As tokenisation and DeFi technologies are still nascent, further research and experimentation is needed," emphasizes the BIS.

The Bank for International Settlements (BIS) and the central banks of France, Singapore and Switzerland concluded a joint test of the cross-border trading and settlement of wholesale central bank digital currencies (CBDCs). Banque de France issued the report on Sept. 28. 

The Bank for International Settlements (BIS) and central banks of France, Singapore, and Switzerland have jointly announced a successful test of cross-border trading and settlement for wholesale central bank digital currencies (wCBDCs).

Nickel explorer Chalice Mining is smarting from a 55.5 per cent slump in its share price since the release of last month’s scoping study, but its strategic partner search is ticking along.

By Bansari Mayur Kamdar and Sruthi Shankar

Legal frameworks ensuring user privacy and the freedom to choose between central bank digital currencies (CBDCs) and other forms of money will be key in driving CBDC adoption, according to the head of the Bank of International Settlements.

By Mathieu Rosemain and Noele Illien

UBS Group AG will on Wednesday seek to convince France’s top court to overturn a reputation-damaging conviction and €1.8 billion ($1.9 billion) penalty for helping wealthy French clients stash away undeclared funds in Swiss accounts.

KeyRock, the Belgian crypto market marker, has successfully gotten clearance from the Swiss Financial Services Standards Association (VQF). 

Hypothekarbank Lenzburg, a prominent regional Swiss bank with assets exceeding $7 billion, has joined the Six Digital Exchange (SDX), becoming the sixth Swiss bank to do so. 

Hypothekarbank Lenzburg, a regional Swiss bank with over $7 billion (6.6 billion Swiss francs) in assets, has joined the Central Securities Depositary of the crypto exchange SDX. 

Swiss federal prosecutors say they have indicted a former employee of the Geneva-based commodities trading firm Gunvor over bribes paid to obtain access to the Republic of Congo’s petroleum market more than a decade ago

FIFA is moving more than 100 jobs from its Swiss headquarters to Florida where a growing workforce is already working on organizing the 2026 World Cup

Cryptocurrency exchange Kraken has received an Electronic Money Institution (EMI) from the Central Bank of Ireland and registration as a virtual asset service provider (VASP) from the Bank of Spain.

(Reuters) — The U.S. FDA is cracking down on lax testing practices by dozens of makers of healthcare products following hundreds of deaths overseas from contaminated cough syrups, a Reuters review of regulatory alerts found.

The United Kingdom is “a home for financial and technological innovation,” according to Chris Larsen, co-founder and executive chairman of US fintech and blockchain firm Ripple.

The most important and uncertain Olympic event this year is happening this week. It might just result in a gold medal for Americans and humiliation for Russians. And nobody can watch it.