Swiss Private Bank Exec: We’re Closely “Tracking Cryptocurrencies” and Waiting for Regulation

Alexandre Zeller, a technology expert and managing partner at Swiss private bank Lombard Odier Darier Hentsch & Cie shared the bank’s stance and strategic approach towards the cryptocurrency and blockchain industry. 

Lombard Odier is a Switzerland-based independent banking group located in Geneva and has its organizational operations divided into three standout dimensions: Asset Management, Private Banking, and Back and Middle for financial institutions since its establishment in 1796.

As a renowned technology expert, Zeller agreed that Lombard Odier, as an organization, has an eye on blockchain technology and crypto assets but is yet to take the bold step into embracing cryptocurrency transactions for reasons relating to sustainable regulatory policies from the Switzerland Central Bank.

Zellar agreed that cryptocurrency and blockchain are an innovation that meets the eye and is increasingly catching investors’ attention. However, with particular reference to digital currencies, he noted, “we would rather wait until there is more central bank regulation.”

On the other hand, the bank is peering into blockchain adoption. According to the tech expert, Lombard Odier already signed a partnership deed with a leading Swiss-based blockchain infrastructure and digital asset startup Taurus as an approach to pioneer technological development in the area of blockchain and digital assets.

“We have acquired an interest in Taurus, which develops digital asset and blockchain solutions,” Zellar said.

Moreover, the Swiss bank sees a green light on the horizon for blockchain technology, viewing blockchain as a “boomsight” that will attract innumerable business opportunities with special attention on digital assets and listing tokens for liquidity. 

Although the current demand for tokens is relatively low on the part of small and medium enterprises(SMEs), Zellar believes that anytime soon, SMEs are sure to flock around bond in the form of tokens. He noted, “but we want to make sure we are ready for the day that market opens up.”

Recently, Coinfomania reported that Switzerland is hard at work to adopt cryptocurrencies and blockchain by mending the country’s financial and corporate law tagged “Blockchain Act” to provide a friendly ecosystem cryptocurrency.

See Also: Swiss Crypto Valley Not Dead, Records Massive Growth Despite Denied Bailout Fund From Govt