A third aspiring Swiss lender targeting the wealthy with crypto assets is in the starting blocks, finews.com has learned. The move comes shortly after Switzerland's regulator green-lighted the first two digital asset banks last month.
A banking project named Tallyon is applying for a Swiss banking license, according to a document seen by finews.com. The project is run by FCHB, a company overseen by Chairman David Bisang (pictured below), a banker and entrepreneur. Credit Suisse veteran Peter Marti is also on the company's board, according to the document.
The move adds another hopeful bank to a host of players poised to break into traditional finance: last month, Swiss regulator Finma granted both Seba Crypto and Sygnum licenses, and each of the banks hopes to take up business early next year. Bitcoin Suisse, a Swiss-based cryptocurrency broker, also wants one, as does Genevan Mt. Pelerin.
Unfetted by Past
Tokensuisse founder Alain Kunz is slated as CEO of the fledgling bank, according to a person familiar with the matter. The document emphasizes that initial coin offerings and crypto speculation isn't the business model, but instead aims to be a tech-savvy bank.
«Our focus lies on the profitability of higher-margin businesses most Swiss banks shy away from,» Tallyon writes in the two-page document. Its vision is to build a Swiss private bank enfettered by legacy issues of incumbents.
Asian Ties?
Marti's membership on FCHB's board indicates that Tallyon would like to seek ties to Asia: the Swiss banker-turned-consultant spent years in the region for Credit Suisse and other finance firms.
While Bisang appeared on FCHB's commercial register this spring, Marti's ties to the company date back nearly two years. Bisang's relatively late entrance to the project highlights that Tallyon may have a long regulatory road ahead. Seba had toyed with the idea of an elaborate kickoff including British bank Coldplay, but was forced to cool its heels, finews.com reported in July.
