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Swiss private bank makes history by offering bitcoin services

Swiss private bank Falcon is the first Swiss bank, and likely the first private bank worldwide, to offer crypto-assets directly to their clients. Additionally, the bank has installed a bitcoin ATM in the lobby of its headquarters in Zurich. Falcon has received green light by the Swiss financial regulator FINMA.

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Game changer: Swiss private bank teams up with bitcoin pioneer to offer crypto-assets to its clients

Falcon Private Bank is the first Swiss private bank to provide blockchain asset management solutions for its clients through the new cooperation with Bitcoin Suisse AG, a bitcoin pioneer founded in 2013. Clients can exchange and hold bitcoins via Falcon using their cash holdings. Additionally, a bitcoin ATM has been installed in the lobby of Falcon Private Bank’s headquarters in Zurich and is accessible for the public during business hours. After an in-depth enquiry, FINMA has given its approval for the launch of this unique new product.

Bitcoin Suisse AG is the regulated crypto-asset broker and infrastructure provider, providing the support for this convenient product, which offers clients exposure to the bitcoin market. Bitcoin Suisse provides the technology and the services necessary to purchase, safeguard, track, and trade bitcoin and other crypto-assets for institutional investors and high net worth individuals.

A historic milestone for crypto-assets

The cooperation between a traditional financial institution and a crypto-financial provider and the resulting product which is now available in the market marks a major leap forward for bitcoin as an asset class and for crypto-assets in general. It is a major step for crypto-assets in becoming a widely accepted asset class for store of value and payments, bridging the gap between traditional finance and the emerging crypto-financial space.

“It has been a pleasure assisting Falcon in realising this new product, which is nothing less than a historic milestone for the entire crypto space,” says Niklas Nikolajsen, CEO, Bitcoin Suisse AG.

First mover in the Swiss private banking area

Arthur Vayloyan, Global Head Products & Services, Falcon Private Bank Ltd.: “Following our strategic partnership with Move Digital, a best-in-class provider of digital asset management and investment advisory systems, this is a further tangible element of our new strategy. We are proud to be the first-mover in the Swiss private banking area to provide blockchain asset management for our clients. Falcon is convinced that the time is right to enter this nascent market and it is our firm belief that this new product will fulfil our clients’ future needs.”

Falcon Private Bank is a Swiss private banking boutique with 50 years of expertise in wealth management with headquarters in Zurich and locations in Abu Dhabi, Dubai, London and Luxembourg.

Source: press release via startupticker.ch

Read also: Swiss private bank accepts bitcoin

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