Recently, the Capital Markets and Technology Association (CMTA) in Switzerland is formed in an order to promote the use of blockchain technology in financial markets, according to a
press release published June 12.
Basically, the CMTA was founded in Geneva by Swiss leader in online banking Swissquote, the law firm Lenz & Staehelin, and market software provider Temenos.
CMTA focuses on creating open toolkits and standards which can be employed by various types of companies in an effort to raise capital by applying new digitalization.
Further, Jacques Iffland, chairperson at CMTA, states that "The blockchain technology has the potential to reduce the complexity of the capital markets system and lower the barrier of entry for start-ups. The current lack of legal certainty is slowing – and potentially compromising – its development in this field. By defining a set of industry-supported, open standards, the CMTA aims to facilitate access to funding for businesses, ultimately contributing to value creation throughout the economy."
CMTA is also defined as a not-for-profit and non-governmental association with leading technology companies. The forming parties are actively working in different areas pursuing their own purpose with the integration of Blockchain.
Switzerland has also voted against the 'sovereign money' for making the country crypto and blockchain-friendly.