Securities
Project Helvetia: The Swiss National Bank's Wholesale CBDC Experiment on DLT
Project Helvetia stands as one of the most consequential central banking experiments of the past decade. Conducted jointly by the Swiss National Bank (SNB), the …
Project Jura: Cross-Border Wholesale CBDC Settlement Between Switzerland and France
Project Jura extended the wholesale CBDC experimentation pioneered by Project Helvetia into the cross-border domain. Conducted jointly by the Swiss National …
Project Mariana: Automated Market Makers for Cross-Border Wholesale CBDC Exchange
Project Mariana represents perhaps the most conceptually daring central banking experiment to emerge from the CBDC research programmes of the past five years. …
SDX Clearing and Settlement: How Switzerland's Digital Exchange Processes DLT Securities
The SIX Digital Exchange (SDX) represents a fundamental rearchitecting of securities market infrastructure. Rather than layering distributed ledger technology …
Swiss Central Securities Depository: SIX SIS, SDX, and the Future of Securities Safekeeping
The central securities depository sits at the heart of any modern securities market, providing the definitive record of who owns what and ensuring that …
Tokenised Equities in Switzerland: Legal Framework, Market Structure, and Investment Opportunities
The tokenisation of equities represents one of the most consequential developments in Swiss capital markets since the introduction of the Federal Intermediated …
Tokenised Funds in Switzerland: Regulatory Framework, Fund Structures, and Distribution
The tokenisation of investment fund units is reshaping how Swiss asset managers structure, distribute, and administer collective investment schemes. By …
Tokenised Bonds in Switzerland: Issuance Framework
Introduction to Tokenised Bonds in Switzerland
Switzerland has established itself as the preeminent European jurisdiction for the issuance of tokenised bonds, …
Issuing Digital Bonds in Switzerland: The Registerwertrecht Framework and Step-by-Step Process
Switzerland's DLT Act created a new category of security — the Registerwertrecht — in which the ledger entry itself is the bond, not a representation of one. This guide covers the full issuance process, from legal documentation to ISIN assignment, platform selection, and investor onboarding, drawing on the landmark transactions that have shaped the market since 2021.
SIX Digital Exchange: The World's First Regulated DLT Securities Exchange
SIX Digital Exchange (SDX) occupies a unique position in global financial markets: it is the world’s first and, as of 2026, only regulated DLT trading …
Switzerland's DLT Securities Market: Issuers, Instruments, and the Tokenisation Outlook
Switzerland’s DLT securities market is the world’s most legally mature tokenised asset market. Built on the statutory foundation of the Swiss DLT …