International Finance
Banking Technology

Blockchain will have direct effect on Swiss banking system: Moody’s report

blockchain, Swiss, Switzerland, cross-border transactions. Moody’s Investor Service, international banking, digital currency
The report says Switzerland's direct relation to international banking and digital currency will firmly impact its banking system

Leading provider of risk analysis and credit ratings, Moody’s Investor Service said Swiss banks are highly risk-sensitive to blockchain technology. Blockchain technology eliminates the necessity for a third-party intermediary through establishment of permanent and secure transaction records between parties.

According to The Asian Banker, Moody’s said in a report: “While making cross-border transactions faster and less expensive would be credit positive for banks, these efficiencies could also compress their fees and commissions, a credit negative.”

Switzerland ranks third on Moody’s report which highlights the list of countries that handle cross-border transactions relative to GDP.

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.