Blockchain technology could cut into Swiss banking revenue, according to a Moody’s Investor Service report released Monday. Switzerland gets 50 percent of its revenue from cross-border transactions and would lose the most in fees and commissions thanks to the more efficient blockchain, even as the nation works to reduce costs and transaction time in cross-border banking, says Moody’s.

The United Kingdom and Belgium should also see significant disruption from the technology behind cryptocurrencies. Read more here.