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Swiss National Post will bring Polygon crypto printing

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The Swiss National Post works to bridge the gap between physical stamps and the digital currency industry by introducing marketable digital stamps.

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The Swiss National Post works to bridge the gap between physical stamps and the digital currency industry by introducing marketable digital stamps.

On September 20, Swiss Post officially announced the upcoming launch of the “Swiss Crypto Brand”, a digital collector associated with Swiss Post physical stamps worth CHF 8.9. Swiss crypto mint provides a digital presentation of the physical print and is stored on the blockchain. “Each design forms an indispensable token and is stored in a blockchain landfill,” a Swiss Post spokesperson said. Online shoppers can find the digital twin of their physical seal via the QR code printed next to the physical seal. The cryptocurrency image shows one of 13 possible designs and can be collected, exchanged and traded online, reports the Swiss Post.

According to a Swiss Post representative, customers can trade or sell their crypto stamps on platforms such as the premier marketplace for OpenSea irreplaceable tokens (NFT). “The Post only sells Swiss crypto brands and is traded separately from Post,” the spokesperson added. The upcoming Swiss crypto minting will obviously offer a similar experience to NFT as some of the stamps will have a rare design. “Some are more common; others are much less common and more desirable. There are 65,000 copies of the most common digital designs, but only 50 are the rarest. One thing is clear: With Swiss crypto printing, the collection, exchange and trading of brands has also The Swiss crypto brand will launch in late November, with 175,000 of those brands arriving at selected Swiss Post branches on November 25.

Switzerland is not the first country to experiment with blockchain technology to provide digital stamp collections. In May 2021, Austrian Post announced that it would include an NFC chip in Crypto Stamp 3.0, the third iteration of its stamp collection with a limited NFT series. Austria issued its first crypto seal in 2019.gone digital,” wrote the Swiss Post. The introduction of cryptocurrencies continues to gain momentum in Switzerland as local tax authorities issue more regulatory approvals for crypto investment instruments. The Swiss Financial Markets Supervisory Authority (FINMA) has approved the Crypto Market Index Fund as "the first crypto fund under Swiss law", the authority officially announced on Wednesday.

The fund was launched by Swiss asset manager Crypto Finance and managed by PvB asset management firm Pernet von Ballmoos AG with a trustee of SEBA Bank AG's trustee. FINMA stipulates that newly approved funds are restricted to eligible investors who primarily invest in cryptocurrencies or digital assets “based on blockchain or distributed ledger technology”. The regulator said that Crypto Market Index Funds can only invest in leading cryptocurrencies with "considerable trading volume". According to Crypto Finance, the fund will monitor the market performance of the crypto Index 10, a product managed by the SIX Swiss Exchange. "The purpose of Index 10 in the crypto market is to reliably measure the performance of the largest and most liquid crypto assets and tokens and to provide investment indicators for this asset class," said Crypto Finance.

FINMA added that it would require investors to invest only through established counterparties based in member countries of the Financial Action Task Force and subject to relevant anti-money laundering provisions. In connection with the approval of the fund, FINMA also approved SEBA Bank AG as the institutional trustee by giving CISA approval to the company. Previously, the government officially allowed the SIX Swiss Exchange to open a digital market and central securities depository for securities in early September. SEBA Bank AG, a fully regulated Swiss institution focused on asset offerings for digital cryptocurrencies, announced on Wednesday the approval of the KAG license by the Swiss Financial Markets Supervisory Authority or FINMA to support institutional trustees for a national collective investment scheme to facilitate.

This announcement allows the bank to obtain a custodial license in Switzerland - and indeed one of the first in the world - to be digital asset oriented. The approval will enable the institution to offer professional clients greater investment opportunities in the emerging cryptocurrency market. Founded in mid-2018 as an advocate for next-generation digital banking, the company will soon become a pioneer in the regulated digital asset sector. A year later, in August 2019, the bank received its banking and securities license and launched the SEBAwallet app, an e-banking service and SEBA card that supports five major cryptocurrencies, including Bitcoin and Ethereum. SEBA CEO Guido Buehler shared his thoughts on the bank's recent success: "Two years ago, SEBA Bank received licenses from a Swiss banking and securities firm and now enjoys excellent inertia as institutional adoption of crypto and digital assets increases worldwide."

Regulatory safeguards in what is often seen as a volatile market soon caught the attention of European elites. In mid-2020, Banque de France selected SEBA to parti Buehler also commented on the implications of attaining the CISA licence for European adoption: "With our new CISA license, SEBA Bank continues its pioneering role in the institutional digital asset space. Asset managers can now offer strategies based on crypto or other digital asset underlying’s to a broader audience utilizing Swiss-based mutual fund structures secured by SEBA Bank as the CISA-licensed custodian.” cipate in a European digital pilot project to test the feasibility of a CBDC in cross-border payments.

The Swiss Financial Markets Supervisory Authority (FINMA) has approved the regulated Swiss stock exchange SIX to launch a digital asset market and central securities repository based on distributed ledger technology. The Six Stock Exchange, which was originally planned to start in the second half of 2019, was held back by regulatory constraints as its ambitions continued to grow. While no specific launch date has been announced on Friday, it is hoped that once the challenge is approved, customers will be able to experience the exchange's offerings in the near future.

In February this year, 21 stocks released the world's first publicly traded product, Polkadot, or ETP, on the SIX Exchange after overcoming growing demand for the asset in the region. Switzerland is commonly referred to as the crypto valley and is widely recognized as one of the most convenient cryptocurrency jurisdictions in the world. The country made a conscious decision not to change its tax laws in June and expressed confidence that the current infrastructure will be sufficient to cope with the growth of blockchain and DTL technologies. Along with the United Arab Emirates and Bermuda, Switzerland has recently become one of the fastest growing safe haven countries in the world, according to the latest data from the Tax Justice Network.

SIX Global Exchange Manager Thomas Zeeb shares his views on acceptance: "Financial market digitization is evolving rapidly, and while the final shape of the market is still evolving, it is an important step in providing a secure and stable infrastructure for institutional investors." Following the introduction of the retail business, SIX expressed its desire to diversify its offerings to meet the requirements of banks, issuers, insurance companies and institutional investors in its global network. In addition to cryptocurrency assets, exchanges have also had the idea of including traditional stocks, exchange-traded funds, and symbolic items such as luxury cars and famous works of art.

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