SWISS BANKING SYSTEM NEWS

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The traditional Swiss banking system should be changed, Moody’s International Agency believes. The Agency’s work report shows statistics that a huge number of crypto-enthusiasts in the field of blockchain and digital currencies are involved in the banking sphere. A distinctive feature of the Swiss banking system is strict control over the activities of banks and investment companies. Bank’s control has a 3-step structure. Given that cross-border crypto-translations are becoming faster and cheaper, financial institutions will have to rebuild. Recall that Switzerland ranks third in the rating of Moody’s and its financial institutions process cross-border transfers in relation to GDP. The rating is headed by the United Kingdom, followed by Belgium.

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