Avaloq s Mathias Schuetz to lead merged Seba Bank divisions finextra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finextra.com Daily Mail and Mail on Sunday newspapers.
Digital Asset Banking Platform SEBA Bank Adds to Leadership Team crowdfundinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from crowdfundinsider.com Daily Mail and Mail on Sunday newspapers.
SEBA, Swissquote, Sygnum, Vontobel and Swisscom Join in Proof of Concept Digital Asset Reference Rate
Swisscom has joined with financial firms
SEBA, Sygnum, Vontobel, and
Swissquote, to pilot the
Swiss Institutional Digital Asset Reference Rate (SIDAR). According to a public statement, during a two-week testing period, the partners carried out daily fixings for Bitcoin and Ether. The banks acted as data contributors and Swisscom as the calculation agent.
Swisscom states that digital assets are gaining in popularity yet popular price and volume data sources are “susceptible to manipulation, damaging the image and credibility of the digital asset market as a whole and hindering institutional adoption.” Swisscom points to the US Securities and Exchange Commission’s decision not to approve a Bitcoin ETF due to “deficiencies in the reliableness of the used reference prices.”