Swiss Banks Now Let You Pawn Crypto-Yes, Really! 😏

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In a move that could make your grandma clutch her pearls and your accountant weep with joy, the venerable Swiss Bank Luzerner Kantonalbank (LUKB) has declared that Bitcoin (BTC) and Ethereum (ETH) may now be used as collateral for loans. One can almost hear the harpsichord playing in approval as they follow up last May’s debut of crypto trading and custody services. 🎩

According to Finews, LUKB is tiptoeing into the thrilling world of crypto-backed lending. Apparently, integrating the entire digital asset value chain is now considered “strategic growth” rather than sheer madness. 🧐

“We are responding to market developments and client whims,” intoned Serge Kaulitz, Head of Blockchain & Digital Assets. “Cryptocurrencies have metamorphosed into a respectable, liquid asset class. Like equities or mutual funds, they can serve as collateral for a Lombard loan, since they can vanish-or be liquidated-at any time.” One almost admires the subtle elegance of phrasing danger as opportunity. 🪄

By embracing the digital realm, LUKB hopes to diversify its portfolio as interest rates plummet and traditional income streams yawn with boredom. Kaulitz assures us that this isn’t mere whimsy; it’s a noble effort to sprinkle digital sophistication across the institution. 💼✨

The Brave New World of Crypto Banking

Switzerland, that land of chocolate, watches, and now, daring financial innovation, is leading the way. Earlier this year, PostFinance added Ethereum staking to its offerings-a move surely causing Swiss cows to nod in approval. 🐄

Last week, Swiss banks collectively performed a small miracle: the first-ever legally approved bank payment on a public blockchain. Led by the Swiss Bankers Association, UBS, PostFinance, and Sygnum Bank participated, perhaps pausing only to adjust their monocles in quiet satisfaction. 🧐💸

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2025-09-26 00:24