Switzerland is ploughing ahead with its plans to become a global crypto leader.
Facebook takes on global finance. But its proposed digital currency Libra frightens central banks and regulators. Below the radar, Switzerland launches its own skirmish. Two local crypto-finance pioneers this week became the first to win banking licences.
Previously famous for its secretive private banks, the affluent Alpine state is becoming a wheeling and dealing hub for electronic finance, similarly beyond the reach of other governments. Traditional bankers may sweat. The financial system, however, will benefit from Swiss experimentation.
Early stage developments in digital currencies have provoked deep scepticism. Bitcoin has bubbled. Coin offerings have flopped. Worldwide,

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