What happened this week in the world of blockchain and cryptocurrencies? The most relevant local and international events, as well as interesting background reports, summarized in our weekly review.
Selected articles of the week:
On Thursday evening, we had the pleasure of welcoming our readership and numerous financial experts to an inspiring evening filled with fascinating insights. The first “CVJ.CH Summer Soirée” gathered around 70 guests and demonstrated how far Swiss banks have already progressed in the digital asset space. One thing became clear: the question is no longer whether digital assets should be offered, but how the offering can be strategically developed further. Despite strong competition from the US, Switzerland remains an attractive location for financial and blockchain companies. A heartfelt thank you to all panelists and guests for making this evening a success!
The CVJ.CH Summer Soirée at GenTwo’s Zurich offices brought together leading voices in Swiss digital asset banking for a candid discussion.
Individual US states create Bitcoin reserves
Shortly after Trump took office, the US became one of the first nations to establish a strategic Bitcoin reserve – financed through previously confiscated coins. This set a dynamic in motion. This week, Governor Greg Abbott signed Senate Bill 21 (SB 21), making Texas the third US state with its own Bitcoin reserve. The aim of the legislation is to establish Bitcoin as a hedge against inflation and a tool for financial diversification. The reserve will be financed through a dedicated fund, separate from the general budget. Funds come from tax revenues, trading profits, donations, airdrops, or forks. Other states may follow suit.
Texas signs SB 21: state Bitcoin reserve funded with public money – inflation hedge & Bitcoin leadership in focus.
Cryptocurrencies as equity for mortgages
The United States is stepping on the gas. Also this week, the Federal Housing Finance Agency (FHFA) instructed that crypto holdings at Fannie Mae and Freddie Mac will in the future be recognized as collateral for mortgages. The measure follows Trump’s vision of making the US the “crypto hub of the world.” Cryptocurrencies thus count as assets – provided they are held on regulated US exchanges. Integrating crypto wealth could grant more creditworthy individuals access to mortgages and breathe new life into the US real estate market, which has been dampened by high interest rates.
FHFA mandates: Crypto holdings may now be considered assets for mortgage applications at Fannie Mae & Freddie Mac
Another MicroStrategy clone
Michael Saylor’s successful Bitcoin balance sheet strategy continues to inspire entrepreneurs. Now, longtime Bitcoin influencer Anthony “Pomp” Pompliano is planning a similar approach through a merger with a publicly traded SPAC: buying Bitcoin as a balance sheet asset, using debt financing, and accumulating more Bitcoin. The project is set to launch with up to USD 1 billion and aims to generate additional revenue through lending, derivatives trading, and similar financial services.
Pompliano merges ProCap BTC with SPAC – ProCap Financial targets 1B USD Bitcoin balance sheet and active yield models.
Turkish major bank expands crypto offering
Also noteworthy: Garanti BBVA Kripto – a subsidiary of the Turkish major bank Garanti BBVA – and Swiss technology provider Wyden have announced a strategic partnership. The focus is on expanding the digital asset trading offering for private and business clients. Garanti BBVA Kripto enables trading of various cryptocurrencies and crypto trading pairs in Turkish lira and US dollars. The offering is intended to expand local access to digital assets and provide Turkish investors with a seamless, efficient trading experience.
Wyden provides infrastructure for crypto trading at Garanti BBVA Kripto – partnership strengthens digital offering for Turkish retail customers.
