AGP Executive Report

MiCAR Crypto Expansion: Bitcoin Suisse (Europe) AG has received a Crypto Asset Service Provider license from Liechtenstein’s FMA, giving the firm MiCAR-authorized reach across parts of the EEA for trading, custody and staking. Stablecoin Infrastructure Push: Ripple is pursuing a coordinated rollout of its RLUSD stablecoin across Europe and Africa, pairing a Luxembourg regulatory base with payments partner Flutterwave to target cross-border remittances. Digital Banking Modernization: Four Swiss cantonal banks are migrating to Avaloq’s new mobile banking platform in phases, adding trading/portfolio tools, real-time alerts, and Apple/Google Pay—an approach positioned as a blueprint for cantonal collaboration. Trade & Industry Context: Switzerland’s parliament rejected the EFTA–Mercosur free trade deal, while broader EU trade talks continue to shape opportunities for exporters and farmers. Crypto Compliance Watch: The EU’s proposed Cloud and AI Development Act would create new cloud-sovereignty assurance tiers, pushing software providers toward earlier compliance planning. Finance Probe: The US DOJ is reportedly investigating links between Iran’s Supreme Leader Mojtaba Khamenei’s money flows and major banks, including JPMorgan and Citi.

HR Leadership: Syncron named Bianka Hay-Falk as Chief Human Resources Officer, tasking her with leading global people and culture as the company scales. Trade & Agriculture: A new India-UK CETA-style trade pact set to enter force July 15 promises tariff cuts for Indian farmers, fishermen, artisans and MSMEs, with immediate access for labour-intensive exports. Liechtenstein in the Deal Flow: A Liechtenstein-based entity is linked to the rescue sale of Midlands immersive attractions maker Simworx after a pre-pack collapse—another sign of cross-border capital backing industrial services. Digital Compliance: The EU’s proposed Cloud and AI Development Act would add a four-level assurance model for cloud sovereignty, pushing software and platform providers toward new compliance planning. Banking Tech: Four Swiss cantonal banks partnered with Avaloq to modernize mobile banking for about one million clients, including Apple/Google Pay and phased feature rollouts. Industry & Skills: Liechtenstein Development Fund support continues for Moldovan vocational schools, upgrading labs and teacher training tied to energy, construction and food-sector dual education. Policy Watch: EU Council conclusions strengthen ties with non-EU Western partners, explicitly including Liechtenstein.

Rescue & M&A: Simworx, a Midlands immersive attractions manufacturer, has been saved via a pre-pack administration and sold to a Liechtenstein-owned buyer, keeping its theme-park and entertainment production footprint alive. Digital Finance: Four Swiss cantonal banks (Basellandschaftliche Kantonalbank, Basler Kantonalbank/Bank Cler, St. Galler Kantonalbank, Thurgauer Kantonalbank) are migrating to Avaloq’s upgraded mobile banking platform in phases, adding trading/portfolio tools, real-time alerts, and Apple/Google Pay. EU Tech Compliance: The European Commission’s proposed Cloud and AI Development Act (CADA) would introduce a four-level cloud sovereignty assurance model and “open source first” procurement rules, pushing software providers toward new compliance planning ahead of late-2027 adoption. Industry & Trade Policy: Switzerland’s parliament rejected the EFTA–Mercosur free trade deal, including accompanying farmer support and the EU deforestation regulation, raising the odds of a referendum. Liechtenstein in the wider economy: EU Council conclusions also cover closer relations with non-EU partners including Liechtenstein, reinforcing the “extended internal market” direction for regional business. Defense Procurement: Greece signed up to the EU’s SAFE defense financing scheme, unlocking long-term loans for surveillance, secure communications, and counter-drone tech.

PIP Travel Rules: UK disability benefit claimants are being warned that summer trips can pause payments if they’re abroad for more than four weeks, with the DWP asking for travel dates, destination, and reasons; trips under four weeks usually don’t trigger changes. Vocational Skills & Industry Links: Liechtenstein Development Fund support is helping Moldovan vocational schools modernize labs, update teaching materials, and train teachers, with close private-sector cooperation spanning energy, transport, construction, and food services. Cloud Compliance for Software Firms: The European Commission’s proposed Cloud and AI Development Act would set a four-level assurance framework for cloud sovereignty, pushing new compliance duties and “open source first” procurement pressures onto enterprise software and platform providers. Banking Tech Modernization: Four Swiss cantonal banks are partnering with Avaloq to roll out upgraded mobile banking for about one million clients, adding trading/portfolio tools, real-time alerts, and Apple/Google Pay. Liechtenstein in Financial Scrutiny: A US DOJ probe into alleged money flows tied to Iran’s Supreme Leader Mojtaba Khamenei reportedly includes routes through banks in Switzerland, Liechtenstein, and the UAE. EU Defense Funding Access: Greece has signed up to the EU’s SAFE defense program, unlocking up to €787.7m in long-term loans for surveillance, secure communications, and counter-drone tech.

PIP Rules for Overseas Travel: UK Disability Living Allowance-style PIP payments can be paused if claimants go abroad for more than four weeks, with the DWP asking people to contact the PIP enquiry line early and share travel dates, destination and reason; trips under four weeks usually don’t trigger changes. Banking Tech Upgrade: Four Swiss cantonal banks are partnering with Avaloq to roll out a new mobile banking platform for about one million clients, adding features like real-time notifications, Apple/Google Pay and phased trading/portfolio tools. Skills & Industry Link: Liechtenstein Development Fund support is helping Moldovan vocational schools modernize labs and train teachers, with closer ties to private-sector partners in energy, transport, construction and food services. EU Cloud Compliance Push: The European Commission’s proposed Cloud and AI Development Act would set a four-level assurance framework for cloud sovereignty, raising compliance pressure for software providers and platform businesses as negotiations run toward late-2027 adoption. Liechtenstein in the Wider EU Orbit: EU Council conclusions reaffirm closer relations with non-EU Western partners, explicitly including Liechtenstein, as the bloc aims to strengthen a shared single-market approach.

PIP Travel Rules: UK disability benefit claimants are being told to contact the Department for Work and Pensions immediately if summer trips will last more than four weeks, since overseas time can trigger payment suspensions unless the DWP has details on dates, destination, duration and reason. Digital Banking Upgrade: Four Swiss cantonal banks (Basellandschaftliche Kantonalbank, Basler Kantonalbank/Bank Cler, St. Galler Kantonalbank and Thurgauer Kantonalbank) are migrating about one million clients to Avaloq’s newer mobile banking platform, rolling out trading/portfolio tools, dashboards, real-time alerts, and Apple/Google Pay. EU Cloud Compliance: The European Commission’s proposed Cloud and AI Development Act would set a four-level cloud sovereignty assurance model, pushing software and platform providers toward new compliance tiers ahead of late-2027 negotiations. Liechtenstein-linked Finance Scrutiny: A US DOJ probe is reportedly examining Iran’s Supreme Leader Mojtaba Khamenei’s money flows, with links routed through banks in the UK, Switzerland, Liechtenstein and the UAE. Nuclear Security Statement: A large coalition of states, including Liechtenstein, condemned a May 17 drone attack targeting electrical infrastructure outside the Barakah plant’s inner perimeter.

Education & Workforce: Liechtenstein Development Fund support is helping Moldova modernize vocational training, with lab upgrades, revised materials, and teacher development via Moldova’s State and Technical universities, while keeping close ties to private-sector partners in energy, transport, construction, and food services. Digital Sovereignty & Compliance: The European Commission’s proposed Cloud and AI Development Act (CADA) would set a four-level cloud assurance framework and push “open source first” procurement, creating new compliance tiers for software providers and hyperscalers ahead of late-2027 negotiations. Banking Tech Upgrade: Four Swiss cantonal banks are migrating to Avaloq’s new mobile banking platform in phases, adding trading/portfolio tools, configurable dashboards, real-time notifications, and Apple/Google Pay—an approach meant to become a blueprint for cantonal collaboration. Finance & Sanctions Risk: The US DOJ is reportedly probing Iran Supreme Leader Mojtaba Khamenei’s money flows, including possible links to major banks and routing through institutions in the UK, Switzerland, Liechtenstein, and the UAE. Aviation & Travel Ops: ACI Europe reports a 0.7% passenger decline in Apr-2026, with concerns tied to the EU’s biometric entry process causing delays and long queues. Construction Safety Market: Fire-stopping materials are forecast to grow to $2.47B by 2030, driven by building-safety needs as construction expands.

EU Tech Sovereignty: The European Commission’s proposed Cloud and AI Development Act (CADA) would set a four-level cloud sovereignty assurance framework, with “open source first” procurement and possible delegated acts extending risk-assessment duties to private firms—an early signal for software vendors and hyperscalers planning for late-2027 adoption. Swiss Banking Digitalization: Four Swiss cantonal banks (Basellandschaftliche Kantonalbank, Basler Kantonalbank/Bank Cler, St. Galler Kantonalbank, Thurgauer Kantonalbank) are migrating to Avaloq’s upgraded mobile platform in phases, adding trading/portfolio tools, configurable dashboards, real-time alerts, and Apple/Google Pay. Liechtenstein in the Financial Spotlight: A US DOJ probe reported by Bloomberg is examining alleged money flows tied to Iran’s Supreme Leader Mojtaba Khamenei, with claims of routing through banks in Switzerland and Liechtenstein. Trade & Industry Policy: Switzerland’s House rejected the EFTA–Mercosur free trade deal, including farmer support funding and the EU deforestation rules—raising uncertainty for regional supply chains. Defense Procurement: Greece signed up to the EU’s SAFE defense financing, unlocking up to €787.7m in long-term loans for surveillance, secure communications, and counter-drone tech. Energy Security Context: A joint statement condemns a May 17 drone attack targeting electrical infrastructure outside the Barakah nuclear plant’s inner perimeter, with Liechtenstein among signatories.

Banking Tech in Switzerland: Four cantonal banks (Basellandschaftliche Kantonalbank, Basler Kantonalbank, Bank Cler, St. Galler Kantonalbank, Thurgauer Kantonalbank) are partnering with Avaloq to roll out upgraded mobile banking for about one million clients, with phased migration and features like trading/portfolio tools, configurable dashboards, real-time alerts, Apple/Google Pay, and credit card management. Liechtenstein in the spotlight: A separate electricity-price ranking puts Liechtenstein among the higher-cost European markets for residential power (avg. ~$0.402/kWh, 2023–2026), alongside countries like Ireland, Italy, Germany, Belgium and the UK. Cross-border finance scrutiny: The US DOJ is reportedly investigating Iran-linked money flows tied to Supreme Leader Mojtaba Khamenei, with links mentioned to banks and routing through Switzerland and Liechtenstein. Trade & industry policy: Swiss lawmakers rejected the EFTA–Mercosur free trade deal, while EU automakers (VW, Stellantis, Renault) urged “Made in Europe” rules to boost local sourcing and assembly as Chinese EV competition intensifies. Energy security & defense: A large international statement condemned a drone attack targeting electrical infrastructure near the UAE’s Barakah nuclear plant; Greece also signed up to the EU’s SAFE defense financing program. Sports governance: Liechtenstein’s Alexander Ospelt was elected FIS president, narrowly beating Johan Eliasch.

Industry & Trade: Switzerland’s House rejected the EFTA–Mercosur free trade deal, voting 96–86, with farmers’ support credits and the EU deforestation rules both turned down—an outcome that matters for Liechtenstein’s export-facing firms. Defense Procurement: Greece signed up to the EU’s SAFE defense financing, unlocking up to €787.7m in long-term loans for surveillance, secure communications and counter-drone tech; Canada’s entry into SAFE also opens procurement routes for non-EU partners. Finance & Compliance: The US DOJ is reportedly probing Iran-linked money flows involving JPMorgan and Citigroup, with funds routed through banks in Switzerland and Liechtenstein—raising the stakes for cross-border compliance. Energy & Costs: A new electricity-price ranking puts Liechtenstein among the higher-cost European markets (avg ~US$0.402/kWh), alongside Ireland, Italy and Germany—useful context for energy-intensive industry planning. Sports Governance: Liechtenstein’s Alexander Ospelt narrowly won the FIS presidency, replacing Johan Eliasch and promising more transparency. Digital Banking: Avaloq secured a mobile banking upgrade deal with four Swiss cantonal banks, a model Liechtenstein’s financial sector may watch closely.

DOJ Money-Laundering Probe: The US Department of Justice is reportedly investigating how Iranian Supreme Leader Mojtaba Khamenei’s network moved funds through major banks, including JPMorgan and Citigroup, with links routed via UK, Switzerland, Liechtenstein and the UAE—raising questions about compliance failures and correspondent banking. Air Travel Pressure: ACI Europe says European passenger traffic fell 0.7% in Apr-26, the first monthly drop since the post-COVID rebound, with delays tied to the EU biometric Entry/Exit process adding strain. Liechtenstein in the Supply Chain Spotlight: A Liechtenstein-based firm, Hilti, is listed among key players in a fast-growing fire-stopping materials market forecast to reach $2.47bn by 2030, driven by building safety needs. EFTA–EU Trade Politics: Switzerland’s House rejected the EFTA–Mercosur free trade deal, including farmer support and the EU deforestation rules. Defense Financing via SAFE: Greece signed up to the EU’s SAFE program, unlocking up to €787.7m in long-term loans for surveillance, secure communications and counter-drone tech—while Canada’s Marconi won a SAFE-linked tactical radio contract in Poland. Industry Pushback on Cars: VW, Stellantis and Renault urged EU policymakers to strengthen “Made in Europe” local-content rules to counter Chinese EV price pressure. Sports Governance: Liechtenstein’s Alexander Ospelt narrowly won the FIS presidency, promising more transparency after a contentious leadership period.

Liechtenstein in EU trade talks: Switzerland’s House of Representatives has rejected the EFTA–Mercosur free trade deal, voting 96–86, with farmers’ support measures and the EU deforestation rules both turned down—an outcome that matters for Liechtenstein’s wider EFTA trade agenda. Defense finance with Liechtenstein in the loop: The EU’s SAFE defense program keeps expanding: Greece has signed on for up to €787.7m in long-term loans for surveillance, secure communications and counter-drone tech, while Canada’s entry opens procurement opportunities for EFTA states including Liechtenstein. Made-in-Europe push: VW, Stellantis and Renault are urging EU policymakers to reward local content under “Made in Europe,” proposing 70% local value thresholds—directly relevant to Liechtenstein-linked supply chains and cross-border manufacturing. Liechtenstein leadership in sport: Liechtenstein’s Alexander Ospelt has been elected FIS president, narrowly beating Johan Eliasch, with a focus on transparency. Tech and spectrum: Open Cosmos says it’s seeking an ITU extension for its sovereign broadband satellite constellation, citing launch force majeure and relying on Liechtenstein-held Ka-band spectrum filings. India–EFTA business momentum: India’s Piyush Goyal is in Switzerland to advance TEPA implementation with a focus on pharma and investment flows, reinforcing the India–EFTA economic track that includes Liechtenstein.

Liechtenstein-EU trade ties: The EU Council approved conclusions to deepen relations with non-EU Western partners, explicitly including the Principality of Liechtenstein, reinforcing a “homogeneous extended internal market” approach. EFTA-Mercosur shock: Switzerland’s House of Representatives rejected the EFTA–Mercosur free trade deal, with votes also turning against farmer support credits and the EU deforestation rules—an outcome that matters for Liechtenstein’s EFTA bloc strategy. India–EFTA TEPA momentum: India’s Commerce Minister Piyush Goyal is in Switzerland to push implementation of the India–EFTA Trade and Economic Partnership Agreement (TEPA), with talks spanning bilateral investment and healthcare/pharma cooperation. Space and spectrum: Open Cosmos is seeking an ITU deadline extension for its sovereign broadband satellite constellation, citing launch disruptions and noting Liechtenstein’s Ka-band spectrum filings. Sports governance: Liechtenstein’s Alexander Ospelt was elected new FIS president, narrowly beating Johan Eliasch in a closely watched vote. Energy costs (local angle): A new electricity-price ranking places Liechtenstein among the higher-cost European residential markets.

Nuclear Security: Bahrain and a broad coalition including Liechtenstein condemned a May 17 drone attack targeting electrical infrastructure outside the Barakah Nuclear Power Plant in the UAE, calling it a violation of international law and a threat to regional peace. EU Defence Finance: Greece signed up to the EU’s Security Action for Europe (SAFE), unlocking up to €787.7m in long-term loans for surveillance, secure communications and counter-drone tech—while Canada’s Marconi Technologies also landed a first SAFE tactical radio contract with Poland. Trade & Industry Links: The EU Council backed closer ties with non-EU western partners including Liechtenstein, and automakers Volkswagen, Stellantis and Renault pushed EU “Made in Europe” rules that reward local sourcing (70%/70% proposals) to counter Chinese EV pressure. Liechtenstein in Tech & Finance: Liechtenstein-based Gnomon Capital acquired Croatia’s DC North data centre operator, expanding digital infrastructure holdings; and a separate feature highlights Liechtenstein’s fintech push built on regulation and cross-border access. Sports Governance: Liechtenstein’s Alexander Ospelt was elected new president of the International Ski and Snowboard Federation (FIS), narrowly beating Johan Eliasch.

EU External Relations: The EU Council backed a “homogeneous extended internal market” approach and mapped closer ties with non-EU Western partners, explicitly including Liechtenstein among the countries covered. Defense Industrial Base: Canada became the first non-European country to join the EU’s SAFE defense procurement framework, while Greece signed on for up to €787.7m in long-term financing for surveillance, secure comms and counter-drone tech. Liechtenstein in the spotlight: A joint statement condemning a drone attack on the Barakah Nuclear Plant lists Liechtenstein among signatories, underscoring the principality’s diplomatic footprint. Energy & industry signals: A new dataset ranks Liechtenstein among Europe’s higher residential electricity prices, a reminder of cost pressures facing local industry. Digital infrastructure: Liechtenstein-based Gnomon Capital acquired Croatia’s DC North data centre operator, expanding the region’s capacity for cloud and secure storage. Local business & governance: Liechtenstein lawyer Alexander Ospelt was elected new president of the FIS, replacing Johan Eliasch after a tightly fought vote. Tech & connectivity: Open Cosmos says it has requested an ITU extension for its sovereign broadband constellation, citing launcher issues and relying on Liechtenstein Ka-band spectrum filings.

Nuclear Security: Liechtenstein joined a sweeping joint statement condemning a May 17 drone attack on electrical infrastructure near the UAE’s Barakah nuclear plant, warning of serious risks to civilians and potential transboundary radiological and health impacts. Defense Finance: Greece signed up to the EU’s SAFE defense program, unlocking up to €787.7m in long-term, favorable loans for surveillance, secure communications and counter-drone tech—while procurement under SAFE also opens to EFTA states including Liechtenstein. Automotive Industry: Volkswagen, Stellantis and Renault urged EU policymakers to strengthen “Made in Europe” support via clearer local-sourcing rules, proposing thresholds tied to EU and EFTA content to counter Chinese EV price pressure. Liechtenstein in Tech & Infrastructure: Liechtenstein-based Gnomon Capital acquired Croatia’s DC North data centre operator, expanding the principality’s footprint in European digital infrastructure. Sports Governance: Liechtenstein’s Alexander Ospelt was elected new FIS president in a tight vote, aiming for more transparency after a contentious leadership period. Energy Costs Watch: A new ranking places Liechtenstein among Europe’s higher residential electricity prices, at $0.402 per kWh (2023–2026 average).