Swiss Bank Cité Gestion to tokenize company shares on Ethereum News ▸ Switzerland ▸ Banking
Swiss Bank Cité Gestion to tokenize company shares on Ethereum
Cité Gestion is reportedly the first private bank to issue its own securities on a blockchain under Swiss law.
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Updated: Jan. 24, 2023 at 10:26 am UTC
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Switzerland-based private bank Cité Gestion has reportedly teamed up with Taurus technology to tokenize and manage its company shares on the Ethereum blockchain.
As per Coindesk’s report, Cité Gestion will leverage Ethereum’s smart contract functionalities to create, distribute and manage the servicing of its shares.
Taurus said that the tokenization of Cité Gestion’s shares was executed in accordance with the Capital Markets and Technology Association (CMTA) standards.
Cité Gestion Deputy CEO Christophe Utelli remarked that the application of the CMTA standards will ensure that adequate risk management is considered while issuing the tokenized assets.
Utelli added:
“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.”
Cité Gestion will reportedly become the first private bank to issue its own securities under Swiss law.
Since its inception in 2018, Taurus has helped over 15 companies tokenize their securities across Switzerland and Europe.
According to Taurus, the digitalization of private assets and securities will become the new standard.
Posted In: Switzerland, Banking
Author 
Christian Nwobodo
Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. Christian is interested in DeFi protocol research, token economics, and on-chain analytics.
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).