The first Swiss private bank to offer Bitcoin deposits

The first Swiss private bank to offer Blockchain asset management solutions and Bitcoin deposits to its clients

The private bank Falcon Group will offer its customers to hold and exchange Bitcoin and has set up a virtual currency distributor in the entrance of its head office in Zurich.

 Following the approval of the Swiss Financial Market Supervisory Authority and through an agreement with Bitcoin Switzerland Ltd., the Falcon Private Bank now allows its customers to buy and retain bitcoins:

“Falcon Group is the first Swiss private bank to offer Blockchain asset management solutions to its clients. Customers can exchange and hold their cash for Bitcoins through Falcon.”

“The Falcon Group will offer its customers to hold and exchange bitcoins” says  Arthur Vayloyan, director of products and services of Falcon Bank Private Limited. The company has also installed a virtual currency distributor in its headquarters in Zurich. The regulator of the Swiss financial center (Finma) has given its approval to these projects.

 “Falcon is confident that the time is right to enter this nascent market and we are clearly confident that this new product will meet the future needs of our customers,” says Arthur

 Falcon has partnered with Bitcoin Switzerland, a company specializing in “alternative finance”, including Bitcoin as well as other cryptocurrencies and precious metals, according to the company’s website. As part of this cooperation, the bank will provide its customers with asset management solutions based on the Blockchain.

 While it was only worth a few cents at its launch in 2009, the bitcoin price rose from USD 1,000 in April to nearly USD 3,000 in June, before falling back to around USD 2,300.

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