Peter Wuffli, who is the former CEO of the largest Swiss bank UBS, he has recently launched his new crypto bank called Sygnum and is looking to tap into the crypto market worth USD 220 billion.
He said he believes the market is still very young and that several solutions can be offered to clients such as custody, trading and loans.
He then went on to comment that the only aspect that gets in the way of this is that there is still no clear regulation for the industry. Wuffli is confident that blockchain brings a lot to the table, but that some uncertainty is still there.
“Thousands of clients have contacted us for a one-stop shop for asset custody, loans, and trading cryptocurrencies seamlessly with fiat currencies.”
He then went on to say “One thing missing from my CV is that I have never been involved in the creation of a new bank. I am a curious person and I love new things, it’s energizing,” he said.
Finally talking about Libra Wuffli said that he believes states should have control over currencies.
“As soon as someone tries to challenge the sovereign monopoly on currencies they will not allow it, and for good reason. Besides, I don’t think people will treat private currencies like that without the power of a country and a political system behind it,”
Such a senior banker would have a great insight into the workings of the worlds financial system and maybe we should take note.
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