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The trust company targets institutional investors in the United States as asset managers line up for a spot Bitcoin ETF. The United States may soon have a Bitcoin-only trust company, according to plans disclosed by BitGo and Swan Bitcoin on Sep. 15. The joint venture is pending regulatory approval, the companies said in a statement. The forthcoming entity will handle similar activities of a trust company , including Bitcoin custody, administration and management on behalf of its beneficiaries. According to Cory Klippsten, CEO of Swan, the solution intends to offer Bitcoin custody without the risks of having other altcoins under the same roof. "For years, we've heard from major clients, partners, and other Bitcoin companies that they would prefer a Bitcoin-only software and services stack that is focused strictly on the best custody that leverages Bitcoin's unique features,” Klippsten said. The companies are in contact with state regulators about the plans , but have not...

Though the Swiss National Bank is set to pilot central bank digital currencies, or CBDCs, amid a changing financial ecosystem, it doesn’t necessarily have plans to launch one.  The pilot is meant to test a wholesale CBDC for “a limited time” to test transactions with market participants on the SIX Digital Exchange, a spokesperson told Blockworks. The central bank sees signs in Switzerland of the development of a new financial ecosystem where transactions take place with tokenized securities and tokenized money — an environment set to make financial markets more efficient.  The SIX Digital Exchange launch ed in November 2021 when parent company SIX issued a tokenized bond that marked “the beginning of a new era,” Thomas Zeeb, SIX’s global head of exchanges, said in a statement at the time.  UBS issued a digital 375 million Swiss franc-denominated, three-year bond on the SIX Digital Exchange about a year later — becoming the first such bond by a banking institution to be listed, ...