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Swiss central bank trials wholesale CBDC with BIS and commercial lenders

The Swiss National Bank (SNB) has successfully tested the integration of a wholesale central bank digital currency (CBDC) settlement with commercial banks. According to an announcement by the Bank for International Settlements (BIS) on Thursday, the successful trial was a major part of the second phase of Project Helvetia that aims to integrate tokenized financial assets with mainstream markets. The BIS joined five commercial banks — Goldman Sachs, Credit Suisse, Citi, UBS, and Hypothekarbank Lenzburg — as well as the …

Crypto bank Sygnum raises $90 million, now valued at $800 million

Sygnum, a regulated crypto bank and asset manager, has raised $90 million in a Series B funding round. The firm is now valued at $800 million. Sun Hung Kai & Co., a Hong Kong-listed financial services company, led Sygnum’s Series B funding. Other investors in the round included Animoca Brands, SBI Holdings, Siam Commercial Bank’s digital investment arm SCB 10X, and Canadian investment firm Meta Investments. Sygnum’s employees also participated in the Series B round, as with all its prior …