An independent association formed by leading actors from Switzerland's financial, technological and legal sectors to create common standards around issuing, distributing and trading securities in the form of tokens using the distributed ledger technology.

The Capital Markets and Technology Association

Established by Lenz & Staehelin, Swissquote Bank Ltd, and Temenos AG, the CMTA is a not-for-profit, non-governmental association, capable of assuming an independent role as standard-setter for the use of blockchain technology in capital markets. CMTA was discussed and its concepts refined in the framework of the Center for Digital Trust at EPFL (


The blockchain technology makes it possible to simplify the processes through which companies are issuing securities to raise capital and to lower the barrier of entry to capital markets.

By defining a set of industry-supported, open standards, the CMTA aims to facilitate access to funding for businesses, ultimately contributing to value creation throughout the economy.

The CMTA is an association organized under Swiss law having its registered office in Geneva and registered in the Commercial registry of the canton of Geneva under registration number CHE-408.722.286.

Founding Members

Lenz & Staehelin

Founding Member

Lenz & Staehelin is a full-service law firm in Switzerland, with highly recognised experts in Banking & Finance, Corporate, Capital Markets, Regulatory and FinTech.

Over 200 lawyers and a presence in three major economic areas allow the firm to innovate and adapt to the ever-changing complexities of legal and regulatory environments in Switzerland and beyond.

Swissquote Bank Ltd

Founding Member

The Swiss leader in online banking. Swissquote offers a user-friendly online trading platform as well as eForex, Robo-Advisory and eMortgage solutions for private clients, corporate clients and independent asset managers. Swissquote is an innovator in the field of cryptocurrencies, becoming in 2017 the first European online bank to offer Bitcoin investing on its trading platform.

Swissquote is a bank regulated by FINMA and a member of the Swiss Bankers Association. Its parent company, Swissquote Group Holding Ltd, is listed on the SIX Swiss Exchange (symbol: SQN).

Temenos Group AG

Founding Member

Temenos Group AG (symbol: TEMN), headquartered in Geneva, is a market leading software provider, partnering with banks and other financial institutions to transform their businesses and stay ahead of a changing marketplace. Over 2,000 firms across the globe, including 41 of the top 50 banks, rely on Temenos to process the daily transactions of more than 500 million banking customers.

Temenos customers are proven to be more profitable than their peers: over a seven year period, they enjoyed on average a 31% higher return on assets, a 36% higher return on equity and an 8.6 percentage point lower cost/income ratio than banks running legacy applications.

Committee Members

Jacques Iffland


Jacques Iffland is a Partner in Lenz & Staehelin’s Corporate and Capital Markets practice groups.

Full bio

James Larus


James Larus is Professor and Dean of the School of Computer and Communication Sciences at EPFL.

Full bio

Morgan Lavanchy


Morgan Lavanchy is Chief Legal Officer of Swissquote Group Holding Ltd and Swissquote Bank Ltd.

Full bio

Ben Robinson


Ben Robinson is Chief Strategy Officer at Temenos.

Full bio