Falcon Private Bank of Switzerland launched a digital asset management service earlier this summer with the goal of including new forms of cryptocurrencies into its operations. The Swiss Bank had earlier announced its plans of partnering with Bitcoin Suisse, a brokerage service firm to make it possible for its users to transact in Bitcoin through their bank accounts held with the said bank. This collaboration was expected to become a reality after getting the green signal from Swiss Financial Market Supervisory Authority (FINMA) and other Swiss regulators.
(Read full article : The first Swiss private bank to offer Bitcoin deposits )
Presently the Swiss Private Bank has decided to expand its product line and include the likes of Litecoin, Ethereum and Bitcoin Cash under its purview. As per recent announcement made by the bank, its customers can start transacting in digital currencies from 22nd August onwards. This comes as a significant development given the fact that the initial service was purchased online just one month back. This is also the first time for a bank to open its floodgates to providing cryptocurrency transacting platform to its account holders. The asset size of Falcon Private Bank measured a whopping $14 billion as per last year’s reports.
Niklas Nikolajsen, the CEO of Bitcoin Suisse termed this activity of Falcon Private Bank as history creation which is sure to make them the ultimate go-to private bank for investors and crypto-asset holders.
When the company launched it’s Bitcoin Services, Falcon also moved to install a Bitcoin ATM in it’s Zurich Headquarters.
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