Falcon Offering Bitcoin Asset Management

Announcements, Blockchain, FinTech, Investing, News, Regulation | August 1, 2017 By:

Falcon Private Bank, in partnership with Swiss cryptocurrency broker Bitcoin Suisse AG, has become the first Swiss private bank to provide bitcoin and blockchain asset management solutions for its clients.

The Swiss Financial Market Supervisory Authority (FINMA) has given its approval for the launch of this new product after what the sides describe as an in-depth enquiry.

Falcon clients can now exchange and hold bitcoin using their cash holdings. The solution claims to facilitate easy access to blockchain assets and a convenient storage process. Additionally, a bitcoin ATM has been installed in the lobby of the bank’s headquarters in Zurich.

Falcon product and services head Arthur Vayloyan said the bank views the decision to offer bitcoin trading and storage as an important strategic move.

“People here are thinking this is beyond bitcoin. This is a new chapter in how we exchange money,” said Vayloyan. “As a financial services partner, I think we have to become part of that strategy.”