Insights

Accessing Chilean Institutional Clients under the Fintech Act: What Foreign Providers Can and Cannot Do

Chile’s Fintech Act licenses crypto custody and intermediation, whoever the client is. The article maps six cross-border scenarios for foreign providers serving Chilean institutions, with a can/cannot assessment for each, and sets out the qualified-investor route that allows registration without a Chilean entity.

Chile's Capital Markets Need a Next Step. Switzerland Has Already Built It

Tokenization is closing financing gaps in other markets. The column argues that Chilean issuers can use Swiss DLT infrastructure today while Chile builds its own regime — and that the order of steps matters more than ambition.

The Next Frontier: Structured Products with Tokenized Assets as Underlying

Structured products have always been defined by their underlying — equities, indices, rates, FX. Tokenization adds a new category to that menu: tokenized treasuries, equities, private credit and real estate. The article argues the real case for these products is diversification rather than digital-asset exposure for its own sake, that the first visible change will be in how banks present client portfolios, and illustrates the point through tokenized mining royalties and streaming rights — including the Swiss Royalty Token (SRT) framework.

Switzerland's Quiet Edge in Tokenisation and How to Export It: A capital-light opportunity in Latin America

Since the DLT Act came into force in 2021, Switzerland has assembled a comprehensive legal and operational stack for tokenised securities — from Article 973d of the Code of Obligations to SDX's formal integration into SIX post-trade infrastructure in October 2025. The article argues that Switzerland's lead is real, tradeable, and exportable to Latin America through two tracks: immediate issuance through Swiss infrastructure today, and long-term regulatory build-out across the region.

Economic Freedom & Digital Currencies

Challenges and opportunities for Chile and Latin America in the age of CBDCs. Examines the regulatory insertion of the Digital Euro, the ECB's programmable money powers, Switzerland's constitutional cash guarantee of March 2026, and what Europe's trajectory means for Chile's positioning as a destination for capital and talent.

Interview with Verónica Pollak: Insights on the Evolving Crypto Industry

Public Appearance at CVC — Dr. Verónica Pollak

Dr. Pollak's appearance at the CVC event in May 2025, sharing expertise on Swiss financial regulation, digital assets, and the opportunities for knowledge transfer between Switzerland and Latin America.

The Impact of the Bank Recovery and Resolution Directive's (BRRD) Bail-in Tool on Covered Bonds

Dr. iur. Verónica Pollaková. Drawing on the failures revealed by the financial crisis, this research examines the BRRD's bail-in tool as a legal mechanism to restore the viability of distressed institutions — and its intersection with covered bonds under Basel III. Addresses whether the bail-in tool affects covered bonds, whether they remain an optimal issuance instrument, and whether their use should be encouraged under the new recovery and resolution regime.