Four Swiss banks, Vontobel, Swissquote, and digital banks Sygnum and Seba Bank have joined forces with Swisscom to work on a feasibility study on bankable reference prices in the digital world and jointly launched the Swiss Institutional Digital Asset Reference Rate (Sidar).
Daily fixings for bitcoin and ether were carried out during a two-week test period. The banks acted as data providers and Swisscom as the calculation agent. ‘Popular price and volume data sources are susceptible to manipulation, damaging the image and credibility of the digital asset market as a whole and hindering institutional adoption,’ said Swisscom FinTech’s Aetienne Sardon. ‘As a robust and trustworthy benchmark, Sidar serves as a unique market indicator, reflectin
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