Wyden founder Andy Flury joined the Genfinity podcast to unpack a busy year for the Zurich-based trading platform. The centerpiece was Wyden’s decision to join The Hashgraph Association Membership program. That announcement landed alongside two tier-1 bank signings, integrations with EDX Markets and FalconX, and a broader push into tokenized securities. Across the conversation, Flury walked through what Wyden builds, who it serves, and why ecosystem collaboration now matters more than ever.
Who Wyden Is and Why Banks Need It
Wyden serves as the unified trade and operating layer for banks and brokerages across Europe. The platform sits between the bank’s core systems and the global digital asset market. Flury founded the company in Switzerland and moved into crypto in 2017. He signed the firm’s first bank client in 2020. Since then, Wyden has focused almost entirely on the sell side.
Today Wyden reaches over 250 million retail customers through its bank partners. In the podcast, Flury said Wyden signed two very large tier-1 clients this year alone. Each of those banks serves more than 50 million end customers. Consequently, Wyden’s reach into traditional retail banking now rivals many crypto-native platforms. That footprint sits at the heart of every conversation on the podcast.
The Data-Master Problem Wyden Solves
Flury spent time explaining why banks struggle to plug into digital assets. Traditional banking systems assume the bank owns the master ledger. However, on-chain markets flip that assumption entirely. The blockchain becomes the source of truth. As a result, banking systems must trust an outside data source for the first time.
Wyden closes that gap with a single operating layer for the full trade lifecycle. The platform connects to roughly 70 venues for execution and custody. Additionally, it handles pre-funding, reconciliation, and integration with core banking systems. Wyden also provides a double-entry accounting ledger built for 24/7 markets. Without that unification, Flury said banks are forced to stitch together fragmented vendor stacks that create real operational risk.
Why Joining The Hashgraph Association Membership Matters
On the podcast, Flury framed the Hashgraph Association membership as more than a logo swap. He described it as part of a bigger philosophical shift inside the industry. Vendors can no longer pitch banks in isolation. Instead, they need to explain how the whole stack fits together. That question comes up in almost every institutional sales conversation.
The Hashgraph Association Membership program now includes roughly 130 institutional members across the Hedera ecosystem. Wyden joining that group gives banks a clearer path from the Wyden trading layer into Hedera-based settlement, tokenization, and custody workflows. Flury said this kind of ecosystem alignment shortens sales cycles and reduces integration risk for the buyer. For Wyden, the move signals a deeper commitment to Hedera as an institutional venue. For The Hashgraph Association, it adds bank-grade trade lifecycle infrastructure to the membership network.
Flury also stressed a broader point in the interview. Every player in the space is still serving a niche. To scale into the traditional financial system, vendors have to collaborate on distribution, education, and governance. That is why membership organizations like The Hashgraph Association matter right now. They give banks a coordinated technology story rather than a pile of disconnected pitches.
Wyden’s 2026 Momentum
The Hashgraph Association announcement lands during Wyden’s most active year on record. In May, Wyden connected to EDX Markets, adding centrally cleared crypto liquidity for banks. In June, Wyden added FalconX, the institutional prime brokerage, unlocking over 400 trading pairs and enhanced fiat rails. Earlier in the year, Wyden also integrated Wincent, a top-ten global crypto market maker.
Flury said Wyden usually builds two to three new connectors per year. However, 2026 has already outpaced that cadence. Combined with the two tier-1 bank signings, the platform has meaningfully expanded both its client and liquidity footprint. Over half of Swiss banks now offer digital asset services, and MiCA continues to pull adoption across Europe. Wyden sits directly in the middle of that structural expansion.
We are pleased to announce our integration with FalconX, further expanding the institutional liquidity network available through Wyden.
— Wyden (@wyden_io) June 11, 2026
This integration provides Wyden clients with streamlined access to deep digital asset liquidity across 400+ trading pairs, leveraging FalconX's… pic.twitter.com/I1x6KAEvAj
Andy Flury’s Read on Where the Market Is Going
On the podcast, Flury drew a sharp line between two layers of the market. The cyclic layer of token prices and ETF flows has slowed. Meanwhile, the structural layer of institutional infrastructure keeps accelerating. In his view, that split is healthy for long-term adoption. Real bank rails do not depend on price cycles to justify the buildout.
He also described a clear phase shift inside the banks he works with. Early digital asset banking focused mostly on spot crypto for retail buy and hold. Now the industry is entering what Flury called phase two. Tokenized assets and stablecoins are drawing more institutional attention than spot crypto in 2026. He acknowledged that people have called every year the year of tokenization since 2017. Even so, he believes this cycle finally matches the promise.
On-Chain Cash Will Not Consolidate to One Instrument
One of the sharpest takeaways from the interview involved settlement. Flury argued that on-chain cash will not resolve into a single instrument. Instead, stablecoins, tokenized deposits, wholesale CBDCs, and tokenized money market funds will coexist. Big institutions increasingly view stablecoins as the practical means of payment for T+0 settlement. Other on-chain cash forms will serve different regulatory and treasury use cases.
That view shapes Wyden’s product direction. The team is extending its bank-tested spot crypto infrastructure into tokenized securities. In that model, Bitcoin does not trade only against dollars. Instead, it trades against whatever tokenized instrument represents the dollar or euro underneath. As a result, the same orchestration engine that runs crypto trades will handle tokenized equities and bonds. That gives bank clients a single operational stack for crypto and tokenized traditional assets.
What’s Next for Wyden Through Year-End
Flury pointed to NYSE and Nasdaq announcements as the most exciting near-term catalyst. Both incumbents are building crypto-related infrastructure in partnership with digital asset firms. Their entry signals that traditional exchanges are moving past exploration into production. That kind of activity will further pull banks toward unified trading and settlement layers.
For Wyden, the near-term roadmap centers on tokenized securities and multi-instrument settlement. The Hashgraph Association membership fits directly into that plan. Between tier-1 client wins, expanded liquidity connectivity, and deeper ecosystem ties, Wyden is set up for a strong second half of 2026. Follow along at wyden.io and on X at @Wyden_IO, and check out the Hashgraph Association Membership program at membership.hashgraph.swiss.
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