RLP Blog

Swiss Digital Asset Custody Report 2023

Swiss digital asset custody report by HomeofBlockchain.swiss in collaboration with the Swiss Bankers Association, the Asset Management Association Switzerland, and the Capital Markets and Technology Association showcasing Switzerland’s position as a global leader in safeguarding digital assets.

The report covers a variety of topics, including an introduction to digital asset custody, challenges associated with custody, an examination of crypto custody in Switzerland from a legal standpoint, and additional in-depth aspects.

Key Findings:

🇨🇭 The report is based on a survey of 57 entities, with a strong 59.6% return rate (34 responses received). Nearly 80% of the surveyed entities in the report hold licenses as self-regulatory organizations, asset managers, or securities firms. Additionally, the report reveals that 15 fully licensed banks actively participate in the digital asset custody space, further highlighting the strong presence of established financial institutions in Switzerland’s digital asset ecosystem.

🇨🇭 Swiss custodians primarily focus on a limited range of digital assets, specifically Bitcoin and Ether. On the other hand, crypto-native service providers in Switzerland offer support for a broader array of protocols, with a particular emphasis on Ethereum and ERC-20 tokens.

🇨🇭 Only a few service providers offer custody services for NFTs.

🇨🇭 A mere 20.6% of the surveyed providers currently offer custody services for security or asset tokens.

🇨🇭 41.2%, of Swiss custodians provide deposit insurance or guarantee services to enhance the security of digital assets held under their custody.

🇨🇭 A majority of respondents, accounting for 73.5%, offer remote bankruptcy solutions, ensuring that the custody assets remain unaffected and separate from the custodian’s financial situation in the event of bankruptcy. The remaining 26.5% of respondents either offer self-custody solutions, where clients have direct control and oversight of their assets, or function solely as technology providers in the digital asset custody.

Excellent work!

Read the full report here →