Swiss resort deposits digital stocks with Credit Suisse
The Swiss resort’s equity has been tokenised and will be available for trade on a digital exchange
Swiss resort Alaïa SA, one of the fastest-growing action sport destinations in Europe, has tokenised and deposited its stocks with global investment bank Credit Suisse, in partnership with cryptocurrency custody and trading firm Taurus.
The tokenisation was performed in accordance with Swiss laws, regulations and Capital Markets and Technology Association (CMTA) standards using the Ethereum blockchain.
For this project, Credit Suisse has integrated the full Taurus product suite, in order to allow end-to-end digital management of the Swiss resort’s stocks.
Stocks will be traded on Taurus Digital Exchange
As Alaïa’s equity has been digitalised, Taurus believes it has simplified its capital management. In the near future, the tokenised Alaïa stocks will be available for trading on Taurus Digital Exchange, the first independent, regulated digital asset marketplace worldwide.
Making private assets digital
Taurus co-founder Lamine Brahimi said: “We are committed to supporting entrepreneurs and financial institutions to make private assets digital and facilitate corporate finance 2.0. The collaboration with the Credit Suisse Institutional Clients team has been exceptional and I look forward to the next steps of this project which will constitute a world premiere, paving the way to many.”
Adam Bonvin, founder of Alaïa, said: “With Alaïa's projects, we want to offer an innovative and disruptive vision of the development of the travel and leisure segment in Switzerland and abroad. We are particularly enthusiastic with our collaboration with Taurus and Credit Suisse, which allows us to be a forerunner once again, this time in digital finance."
Switzerland’s first crypto stamp
Last week, the national postal service of Switzerland, Swiss Post, announced it will launch the country’s first crypto stamp.
The Swiss Crypto Stamp will be unveiled on 25 November. It will consist of two parts, one being a physical stamp worth CHF8.90 ($9.59), the second being a digital image linked to the physical stamp, stored on a blockchain that will display one of 13 possible images.
The physical stamp depicts the Matterhorn mountain, which lies on the border between Switzerland and Italy, and the Moon on a blue background.
Swiss Post said the crypto stamp is “bridging the gap between the physical and digital worlds”.