The digitalisation of our society is progressing steadily. We are in the midst of a far-reaching transformation process that is breaking up the traditional value chain and fundamentally changing our accustomed business models. This is of course a challenge. At the same time, however, the LBA and our member banks primarily see the great potential of digitalisation.

All Liechtenstein banks have been dealing intensively with progressing digitalisation for quite some time, and several banks are investing heavily in this area. The benefit for clients is twofold. At the front end, clients receive tailor-made services. At the back end, the internal processes are optimised, resulting in lower costs for these services. 

Not only the banks, but also the Government and the Financial Market Authority (FMA) recognised the potential of digitalisation at an early stage, as demonstrated by two supporting initiatives. The FMA’s Regulatory Laboratory is the first point of contact for fintech companies on regulatory, licensing, and supervisory issues. This promotes innovation without weakening client protection. With the Innovation Clubs, the Government is providing a state-accompanied innovation process for start-up companies wishing to establish their new business ideas in Liechtenstein.

Blockchain is a new technology that continues to revolutionise banking. The lack of legal certainty is hindering broader application, however. With its Blockchain Act, Liechtenstein is a pioneer in this important field of the future and one of the first countries to create the legal certainty demanded by the market. The Blockchain Act strengthens and expands Liechtenstein’s leading position in digitalisation and the strongly growing segment of cryptocurrencies.

Links

Liechtenstein

Fintech in Liechtenstein -Overview of the Financial Market Authority Liechtenstein (FMA)

Impuls-Liechtenstein - Governmental facilitation platform for Innovation and Start-ups

Digital Liechtenstein (only available in German)

Newspage of the «Vaduzer Medienhaus» ligital.li (only available in German)

Association Cyber Security Liechtenstein

Blockchain Banking at Bank Frick

Europe

EU Commission Strategy on the Digital Single Market

European Blockchain Partnership (EBP)

EU Plans on Blockchain Tehcnology (#EUBlockchain)

EU Blockchain Observatory & Forum

Tokenise Europe 2025

Education / Continuing Training

Center for Innovative Finance of the University of Basel

Certificate course «Blockchain in Finance» of the University Liechtenstein

CAS Digital Leadership & Transformation of the University St. Gallen

Other relevant Links

NZZ article on the Liechtenstein «Blockchain Act» (only available in German)

Liechtensteiner Vaterland - Interview with Adrian Hasler on the «Blockchain Act» (only available in German)

Blockchain-Glossary - Blockchain Training Alliance

Financial Services at the crossroads of digital transformation - Forbes insight