Nearly half of Swiss banks plan to implement tokenization initiatives

ChainCatcher news, according to a survey conducted by the University of St. Gallen, mintminds, and vision&, 48% of Swiss banks are planning or have already implemented tokenization use cases. The proportion of banks accepting cryptocurrencies is even higher, reaching 64%. In addition to tokenization and cryptocurrencies, 58% of banks plan to develop other "advanced" blockchain application cases, such as trade finance or settlement.

The 19 banks participating in the survey reached a consensus that the potential of blockchain will be realized within a two to five-year timeframe, and its impact will be greater after five years. However, after five years, only 37% of bankers believe that the impact of Distributed Ledger Technology (DLT) will be significant, while 63% consider its importance to be moderate. In the next two years, 11% of banks (all private banks) believe the impact will be significant.

More than a quarter of banks have ten or more full-time employees dedicated to digital assets. An additional 21% of banks have two to five employees.