December Recap – New API offering, the upcoming Bitcoin halving, Lugano accepting crypto payments, and more
Jan 1, 2024 - 5 min read
We wish you a very happy new year and hope you had a great start to 2024. Check out the latest news from Bitcoin Suisse and find out about developments in the crypto world below.
We have published our highly anticipated Crypto Outlook Report 2024. Immerse yourself in exclusive interviews with industry trailblazers and comprehensive insights spanning various sectors of the dynamic crypto industry. In keeping with our established tradition, Bitcoin Suisse Research has unveiled detailed analyses and forecasts for the upcoming year. Prepare for an exceptional 2024 by seizing the opportunity and download your digital copy of the Crypto Outlook Report 2024. Your registration will also grant you exclusive access to Outlook content, including engaging video interviews, topic-specific events, and more.
Dr. Marcus Dapp, Head of Research Bitcoin Suisse
Products & Services
New API Offering
Bitcoin Suisse has released a suite of robust Application Programming Interfaces (APIs). These APIs provide seamless access to crypto trading and staking services, enabling institutional clients to create and use customized crypto offerings, simplify processes, and meet individual preferences of their clients. The APIs have been designed to serve as a toolkit tailored to the needs of professionals, streamlining the process for institutions to engage with digital assets.
The APIs are available for immediate integration – for doing so, visit our Developer Portal here.
Block by block
The countdown to the Bitcoin halving 2024
Satoshi Nakamoto, the creator(s) of Bitcoin, has implemented a mechanism within the protocol to decrease the amount of newly mined Bitcoin over time. This occurrence is referred to as Bitcoin halving, a programmed mechanism embedded in Bitcoin's code to autonomously reduce issuance of new Bitcoin by half. The Bitcoin halving will continue to take place every 210’000 blocks until the number of Bitcoin in circulation reaches 21 million, which is projected to be the case in the year 2140. Today, approximately 19.5 million Bitcoin are already in circulation. The next halving is expected to happen in mid-April 2024, and the mining rewards will then be halved to 3.125 BTC per block.
Bitcoin Suisse has developed a dedicated landing page tailored for the forthcoming Bitcoin Halving, housing comprehensive information and regular updates. To stay informed and ensure you do not miss critical developments, subscribe to our halving newsletter, and receive timely updates directly to your inbox.
Lugano's Plan B
Lugano broadens payment options by including Bitcoin and Tether, powered by Bitcoin Suisse
On December 5, 2023, the city of Lugano announced that it accepts cryptocurrencies for the payment of all community fees. Lugano will accept Bitcoin (BTC) and Tether (USDT) as a means of payment through a simple and fully automated process. The new payment option marks a modern shift in how people handle city-related expenses: Citizens and companies alike may now use cryptocurrencies to pay any invoice issued by Lugano, including tax invoices. By using the benefits of the Swiss QR-Bill, a fully automated solution is being offered: Citizens and companies of Lugano may scan the QR code on the invoice received and then simply pay with their preferred mobile wallet by choosing the cryptocurrency they wish to pay with.
STOXX and Bitcoin Suisse
STOXX enters digital assets market with unique blue-chip crypto index
In partnership with STOXX Ltd., an established and leading global provider of innovative indices, Bitcoin Suisse has launched a unique blue-chip crypto index. The STOXX® Digital Asset Blue Chip index aims to track high-quality assets that represent the crypto universe today and marks STOXX’s entry into the digital assets space. The index considers crypto-native metrics including the level of adoption, total value secured, size of the developer community, fees paid by users and age of the protocol.
Company & Industry Highlights
CHF 4 billion Assets under Custody
Bitcoin Suisse surpasses CHF 4 billion AuM milestone
On the back of ongoing positive market momentum and thanks to new successful product launches at the end of 2023 as well as significant contributions by existing as well as newly onboarded clients, Bitcoin Suisse has reached once again the milestone of CHF 4 billion Assets under Custody. On the back of our proven track record and resilient business model, we observe increasing interest from institutional investors in our expanding offering that help drive our company’s business and growth.
Clarifying guidance on staking services
Swiss blockchain industry happy over published FINMA guidance
At the beginning of September 2023, the Swiss Financial Market Supervisory Authority (FINMA) announced a change in practice regarding staking services, indicating that a banking license could be required to offer staking services. The announcement caused confusion: On the one hand, non-banks would not have been allowed to further offer this service. On the other hand, even banks with the necessary license would have been subject to prohibitive capital requirements in the crypto business, making their offering uncompetitive. In a joint statement in September, the Swiss Blockchain Federation (SBF) and the Crypto Valley Association (CVA) highlighted the negative consequences of the banking license requirement.
On December 20, 2023, after several consultations with industry leaders, FINMA published a guidance that guarantees legal certainty for crypto banks and crypto financial service providers alike and Switzerland as a blockchain hub. Bitcoin Suisse is delighted with the positive collaboration and the establishment of documented practice guidance, which enhances transparency on the treatment of staking services under financial market law and alleviates legal uncertainties.
Research
Crypto Outlook Report 2024
Our Crypto Outlook with exclusive contents is here
The yearly Crypto Outlook Report for 2024 has been published on December 19, 2023 by our Bitcoin Suisse Research Team. The publication delves into strategically important topics within the crypto industry and incorporates insights from industry leaders. In this years’ edition, we feature exclusive interviews with industry experts Harald Rauter discussing ESG implications for Bitcoin and with Matthew Siegel from VanEck on robust valuation models. Additionally, we present 13 bold predictions for digital assets in 2024, offering a glimpse into the future landscape of the crypto market. Delve into our insights on the intersection of crypto and macro trends, decoding what lies ahead in the coming year. Watch the exclusive launch event with many interesting insights here.
Expert insights on U.S. Spot Bitcoin ETF Decision
Our Research provides their expertise on the ETF approvals
Exciting developments are expected this week surrounding an imminent decision of the Securities and Exchange Commission (SEC) on the pending U.S. Spot Bitcoin ETF approvals. We will provide expert insights featuring key discussions, analyses on this pivotal event and a comprehensive overview of the potential impacts on the cryptocurrency landscape. You will receive the insights from our Bitcoin Suisse experts via mail shortly after the decision has been made. Until then, for a deep understanding of the event’s significance and its potential implications for your investments, read up on ETFs as part of our Fundamental series here.
Crypto Outlook Soirée at Google Zurich
What will 2024 hold for crypto?
Bitcoin Suisse Research Analyst Dominic Weibel attended the Crypto Outlook Soirée as a speaker and panelist on December 20, 2023. With his background in material science and aerospace engineering, Dominic spoke about various aspects of the crypto market and its future. He compared the crypto industry to an aircraft’s final assembly line, highlighting the coming together of various components after a long development period, going over several key points that will bring legitimacy and access to Bitcoin even more. Read more in the Bitcoin Suisse Crypto Outlook Report 2024 here.
The whole Crypto Outlook Soirée 2024, powered by the Crypto Valley Association (CVA), can be watched here.
The Weekly Wrap
The latest news at a glance
Stay informed about the latest news in the world of crypto with the Weekly Wrap from Bitcoin Suisse every Friday. You can sign up for the Weekly Wrap here.
Last month’s editions at a glance: