In this section, guest contributors share their perspectives on economic and financial issues.
Switzerland is rightly regarded as a pioneer in digital assets. With its Distributed Ledger Technology (DLT) legislation, it established an internationally recognized legal framework at an early stage. In particular, the introduction of ledger-based securities has made it comparatively straightforward to issue and tokenize securities on distributed ledger infrastructure. Rather than creating an entirely new legal regime, lawmakers selectively amended existing legislation—a pragmatic approach that remains one of Switzerland’s greatest strengths.
Switzerland also enjoys a competitive advantage in DLT trading facilities. The country’s regulatory framework allows licensed platforms to combine the trading and settlement of tokenized securities without the restrictive volume limits imposed in many other jurisdictions. This creates a strong foundation for integrating tokenized securities into mainstream capital markets beyond isolated pilot projects.
The banking sector has also built impressive capabilities. According to FINMA, 54 of Switzerland’s 225 banks are already active in digital assets, offering services ranging from custody and client trading to staking, proprietary trading and tokenization initiatives. Many institutions have developed proprietary wallet infrastructure or partnered with specialized providers. Few financial centers can match this breadth of market participation.
