Blockchain Pulse Survey: Progress and Challenges in Swiss Banking

Blockchain Pulse Survey: Progress and Challenges in Swiss Banking

Note: this article first appeared in the CV VC Top 50 Report 2025 in January 2025. You may want to download the CV VC Top 50 Report to get all the invaluable information about the 50 biggest crypto companies and foundations in Switzerland. And make sure to sign up to my newsletter if you’d like to hear about the next blockchain pulse survey as soon as we release it: ACK Newsletter.

The year 2024 started with a bang when Postfinance announced a crypto offering for its retail-focused client base. Shortly thereafter, Zürcher Kantonalbank, one of Switzerland’s top five banks, launched an institutional crypto offering for private clients and banks, including Thurgauer Kantonalbank as launch partner.

The Blockchain Pulse Survey 2024, a comprehensive survey of 19 Swiss banks by HSG’s Center for Financial Services Innovation, ACK Consulting Knowledge, mintminds AG and vision& highlights how the industry is proactively embracing blockchain opportunities, investing in strategies, and addressing regulatory and technical challenges. The full survey is available at https://unisg.link/pulse-survey-2024.

80% of Swiss Banks working on Blockchain or Crypto Services

The Blockchain Pulse Survey 2024 reveals that Swiss banks are making significant progress in blockchain adoption, with a growing number of institutions developing strategies, investing in innovation, and launching new products and services. The survey highlights several key trends and findings:

  • Blockchain strategies are being developed: Nearly 60% of banks have developed or are in the process of developing a blockchain strategy. They are focused on identifying business opportunities, developing new products and services, and improving operational efficiency.
  • Cryptocurrency adoption is on the rise: 63% of Swiss banks plan to develop or expand their cryptocurrency offerings, with 50% considering it a high priority. For example, some banks are launching cryptocurrency trading and custody services, while others are exploring the use of cryptocurrencies for payment and remittance services.
  • Tokenized assets are gaining momentum: 47% of banks plan to offer tokenized assets, with 33% considering it a high priority. Tokenized assets, such as securities and book-entry securities, have the potential to transform the traditional securities market by increasing efficiency, transparency and liquidity.
  • Advanced blockchain applications are being explored: 58% of banks plan to use advanced blockchain applications, such as trade finance and settlement, in the medium to long term. For instance, some banks are exploring the use of blockchain to improve the efficiency and transparency of supply chain management, while others are developing blockchain-based platforms for trade finance.
  • Regulatory uncertainties and technical challenges remain: The majority of banks (60%) consider themselves cryptocurrency novices, while 20% consider themselves experts. Regulatory uncertainties, high implementation costs and lack of business priority are the biggest challenges to blockchain adoption.

The survey highlights the growing importance of blockchain in the Swiss banking industry, with many banks recognizing its transformative potential for the financial sector. For instance, several banks are leveraging blockchain to improve the efficiency and transparency of payment and transfer processes, while others are exploring its applications in identity management and verification.

Conclusion: It’s Time to Act for Banks

The Blockchain Pulse Survey 2024 shows that Swiss banks are taking a proactive approach to blockchain adoption, with a focus on innovation, strategy, and investment. To remain competitive and capitalize on the opportunities presented by blockchain technology, Swiss banks should quickly consider the following actions:

  • Develop a comprehensive blockchain strategy aligned with business goals and priorities.
  • Invest in innovation and research to stay ahead of the curve in blockchain adoption.
  • Collaborate with other banks, fintech companies and regulators to address common challenges and develop industry-wide solutions.
  • Provide training and education to employees to build the necessary skills and expertise.

By taking a proactive and strategic approach to blockchain adoption, Swiss banks are positioning themselves for success in the rapidly evolving financial landscape.

More from Markus Perdrizat

This article will always be available at https://maol.ch/2025/05/19/blockchain-pulse-survey-2024/

Previously on the ACK Newsletter:
March 2025 How to avoid being hacked like Bybit
February 2025 Why Bitcoin is Important
January 2025 You've been hacked, what now?