Basel Cantonal Bank unit Bank Cler’s ambitions to offer a range of cryptocurrency services this year have suffered a blow after the expert taken on to do this left.
The plans announced by Bank Cler just under a year ago to launch cryptocurrency trading and custody services now seem to be up in the air after the departure of its head of digital assets, Alain Kunz.
Kunz announced the planin August 2020 in the «Neue Zuercher Zeitung am Sonntag» (behind paywall in German) just after he was taken on by the Basel Cantonal Bank unit.
Radio Silence
Kunz gave few details in the interview and since then Bank Cler has maintained radio silence on the project.
Moving on
His LinkedIn profile shows that Kunz has left the bank and is now working as director of business development in Switzerland for GSR, a U.S.-based crypto trading company set up by two former Goldman Sachs bankers in 2013 and which has been operating in Switzerland since 2019.
Kunz has founded several startups and previously worked for derivatives specialist Leonteq and Société Générale.
In 2017 Kunz set up Tokensuisse, a crypto startup, which was swallowed up by banking startup Tallyon and Kunz was forced out.
Bank Cler did not respond to a request for comment on whether it had found a replacement for Kunz and was proceeding with its cryptocurrency plans.
