- Expansion of Instant Payments in Switzerland
- Plans for XRP Integration
- History and Current State of Crypto Services in Switzerland
Switzerland is taking a step forward in the crypto world with the recent expansion of the instant payment scheme and the adoption of XRP on banking trading platforms.
Expansion of Instant Payments in Switzerland
According to an announcement by the Swiss National Bank (SNB) and financial infrastructure operator SIX Interbank Clearing Ltd, Switzerland has reached an advanced level in leveraging instant payments to go cashless. About 60 financial institutions in the country can process instant payments within 10 seconds, covering 95% of Swiss retail payment transactions. The first institution has already launched its retail offering, with others expected to follow in the coming months. This is expected to boost the economy as private individuals and companies will be able to perform account-to-account transactions around the clock.
Plans for XRP Integration
With the anticipated complete establishment of instant payment schemes, experts believe XRP could be integrated in the future. Recently, the state-owned PostFinance bank added Solana (SOL) and Ripple (XRP) to its trading platform. Additionally, 28% of Swiss banks already allow or are planning to allow their clients to invest in cryptocurrency.
History and Current State of Crypto Services in Switzerland
PostFinance's history in the crypto industry dates back before 2023, when it partnered with Sygnum Bank to regulate crypto services. The collaboration aimed to allow customers to buy, sell, and store cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and XRP. Last year, it was reported that Swiss banking giant BBVA expanded its partnership with Ripple-owned Metaco to foster crypto engagement further. As the first tier 1 bank in the Eurozone to offer combined crypto custodial and trading services alongside traditional assets, BBVA aims to lead the way in XRP integration.
XRP is poised to lead the new global financial era, while Switzerland continues to stay at the forefront, actively promoting instant payment schemes and crypto services.
Comments