Swiss lender Tallyon targets wealthy with crypto founder, applies for banking licence
Swiss lender Tallyon has applied for a banking licence to focus on “the profitability of higher-margin businesses most Swiss banks shy away from”, finews.com reports.
In a bid to democratise private banking in Switzerland, the lender says it will use new technology to avoid “legacy burdens” and “outdated infrastructure” in a document. Despite Tokensuisse founder Alain Kunz being dubbed as the soon-to-be bank’s CEO, the firm does not say how it will use cryptocurrency or blockchain technology.
The fintech project is run by bank and credit institution servicer FCHB, which is headed by David Bisang, who founded blockchain company Heymate.
“Banking is to be redefined, and the use of technology should ensure that employees and customers receive a higher esteem than many banks do today,” Bisang tells swissinfo.ch.
According to the document, Credit Suisse veteran Peter Marti is also on the company’s board, who has spent years in Asia for the multinational investment bank. Tallyon has not mentioned if it has eyes on Asia, but it might be inferred by Mart’s appointment.
Swiss regulator Finma gave two digital asset banks licences last month, and there are other companies including cryptocurrency broker Bitcoin Suisse and blockchain bank Mt Pelerin waiting for licences, too.