The Swiss National Bank is wary about an e-franc currency. So why was the central bank in Zurich adorned by a huge ad for bitcoin?

The photo went viral on social media: the Swiss National Bank's offices on Zurich's prestigious Bahnhofstrasse were lit up by a huge symbol for bitcoin, the best-known of a horde of cryptocurrencies emerging, last week.

The advertisement stands in stark contrast to the central bank's actual position on cryptocurrencies and e-Swiss francs in particular, which is unconvinced despite urgings from UBS Chairman Axel Weber, among others. While colleagues in Sweden are dabbling in an e-krona, Swiss policymakers have argued that an e-currency give rise to more risks than benefits. So how come the bitcoin ad?





The neighbors are to blame: Zurich-based blockchain hub Trust Square opened its doors in the prime banking district space last week – and the crypto aficionados seemingly couldn't help but project the bitcoin logo onto the Swiss central bank's facade. The hijinks are unlikely to cause a banking district spat: SNB policymaker Sébastien Kraenzlin was among the guests invited to Trust Square's opening.