FQX, Credit Suisse (Schweiz) AG, SFS & Mikron announce the successful completion of a Pilot using eNotes™
On January 11, 2022, FQX, Credit Suisse (Schweiz) AG, SFS, and Mikron announced the successful completion of a pilot using eNotes™ as a financing instrument. This pilot transaction utilized eNotes™, a blockchain-based electronic promissory note, to provide financing to SFS and Mikron. The implementation aims to enhance corporate treasury operations and financial flexibility for these companies. SFS, a global provider of mechanical fastening systems, generated CHF 1.7bn in revenue in 2020, while Mikron reported over CHF 250m in the same year.
- Successful pilot using eNotes™ demonstrates innovative financing mechanisms.
- Enhances corporate treasury operations for SFS and Mikron.
- Potential for increased financial flexibility through blockchain technology.
- None.
ZURICH, Jan. 11, 2022 /PRNewswire/ -- FQX, Credit Suisse (Schweiz) AG, SFS & Mikron announce the successful completion of a Pilot using eNotes™ as a financing instrument. In a pilot transaction, leveraging the technology built by the Zurich-based FinTech FQX, Credit Suisse provided financing to SFS & Mikron using the electronic Promissory Note, or eNote™. The eNote™ is a blockchain-based short-term debt instrument with which corporates like SFS & Mikron can radically facilitate their corporate treasury operations while increasing financial steering flexibility.
About SFS
SFS is a leading global provider of mechanical fastening systems, assemblies, precision components & logistics solutions. SFS is headquartered in Heerbrugg, Switzerland, employs over 10'000 people and achieved an annual turnover of CHF 1.7bn in 2020.
About Mikron
Mikron Group develops, produces and markets highly precise, productive and adaptable automation solutions, machining systems and cutting tools. Headquartered in Langenthal, Switzerland, Mikron Group employs more than 1'300 people worldwide and achieved a turnover of more than CHF 250m in 2020.
About Credit Suisse
Credit Suisse is one of the world's leading financial services providers. Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 49,950 people. The registered shares (CSGN) of Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
About FQX
FQX is a born-global start-up headquartered in Zurich, Switzerland. FQX is building a decentralized global infrastructure for short-term debt using blockchain technology. FQX employs more than 20 people in Europe & Asia. FQX has garnered attention in 2021 by winning the Swiss Fintech and the Fintech Germany Awards in its respective categories. FQX is backed by notable Fintech investors, among them SIX Fintech Ventures & Earlybird VC.
For more information, please contact Jörg Röthlisberger at:
GLT Communications
info@glt-communications.ch
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SOURCE FQX AG
FAQ
What is the significance of the eNotes™ pilot for Credit Suisse (CS)?
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