Tokenization of bank capital: The intrepid Cité Gestion gives lessons

Switzerland may well occupy the 32e position as a world military power, but in terms of economic, political and social stability, many envy it. Throughout the Covid-19 pandemic, its economy has shown a high level of resilience due in particular to its financial activities, estimates Coface. The speed with which its banks are innovating seems to be superior to that displayed by the other financial institutions of the 27. This latest initiative by the private bank Cité Gestion demonstrates that France still has a long way to go to become the “European crypto hub” well before the Swiss.

Cité Gestion tokenizes its shares

If there are European countries very active in the adoption of cryptocurrencies, Switzerland must be part of the cream of the creams. First, some of its financial institutions have decided to integrate cryptoassets into their ecosystem. This is the case of the bank Julius Baer Group, PostFinance, etc.

Cité Gestion, a pioneer in asset tokenization

Lately, The Tokenizer announced Cité Gestion’s initiative to tokenize its social capital with the help of Taurus. This Swiss private bank founded in 2009 has, in a way, digitized its assets. Thus, it will be able to attract a lot of investors due to the use of blockchain.

In addition, the process of tokenization of Cité Gestion shares on Ethereum would not have succeeded without the help of Taurus-CAPITAL. Said digitization also conforms to the standards set by the Capital Markets and Technology Association (CMTA). The latter is none other than an organization aimed at promoting the use of new technologies of traditional capital.

Hot reactions

Christophe Utelli, Deputy CEO of Cité Gestion, provided more explanation regarding tokenization:

At Cité Gestion, our vision is to allow our clients to take full advantage of technological advances in the capital markets, and in particular of the enormous potential for rationalization and efficiency gains offered by distributed ledger technology in this domain. It was important for our bank to be among the first to take advantage of the new possibilities offered by Swiss law for the digitization of securities by tokenizing our own shares.. »

On the Taurus side, it was time for jubilation for this equity tokenization project of Cité Gestion. Moreover, its co-founder Sébastien Dessimoz believes that the digitization of assets is like the new standard of finance.

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