BitcoinFinancial Services

Swiss Bank to Offer Bitcoin and Crypto-Asset Management to Clients

Falcon Private Bank, a Swiss private banking institution with 14.6 billion CHF of client assets, is now offering clients direct exposure to bitcoin by launching the first of its crypto-asset management products, a product that allows clients to buy, hold and sell bitcoin (XBT/BTC) through the bank.

Clients of Falcon Private Bank will be able to access, acquire, hold and liquidate bitcoin directly through their e-banking platform or their account manager, and will be able to monitor their holdings in custody directly in their online portfolio or as part of standard account statements. Additionally a bitcoin ATM will be available for clients directly in the lobby of Falcon Private Bank’s Zurich branch.

Bitcoin Suisse AG provides the underlying infrastructure and support for this new product offering, and acts as the AML-regulated broker of Falcon Private Bank. Bitcoin Suisse AG is a Swiss-based broker, asset manager and financial service provider specializing in crypto-assets. Falcon Private Bank and Bitcoin Suisse AG, supported by their various partners, have been engaged with one another since January 2017 in setting up this new product offering, technically as well as regulatory-wise. Following a final review by auditors, the product has now received the approval from the FINMA, the Swiss Financial Markets Regulatory Authority.

Bitcoin Suisse AG, a regulated financial service provider specializing in the decentralized financial markets and in crypto-assets, also announced its engagement with Falcon Private Bank. As the Bank’s crypto-asset broker and infrastructure partner, Bitcoin Suisse AG has assisted in providing the full suite of products and services necessary to acquire, safeguard, track, and trade crypto-assets for institutional clients and high net worth clients.

Founded in August 2013, Bitcoin Suisse AG provides a range of financial services and products for individuals, companies and institutions in the new crypto-financial and decentralized market space, including brokerage, trading, asset management, ICO services, software integrations and consulting solutions based on crypto-assets and blockchain technologies.

Bitcoin Suisse AG is previously supplied the crypto-payment solution infrastructure for the town of Zug, which, on July 1st 2016, allowed bitcoin and other crypto-assets to be used as payment for public services. Switzerland is becoming known for transparency and regulatory safe business in bitcoin- and crypto-asset space, especially with the region of Zug which has become known as ‘Crypto Valley’.

Bitcoin Suisse AG CEO, Niklas Nikolajsen said: “Bitcoin Suisse is proud to support Falcon Private Bank in this historic product offering. Falcon Private Bank is, to my knowledge, the first private bank worldwide to offer crypto-assets directly to their clients. It has been a pleasure assisting Falcon in realizing this product offering, which is nothing less than a historic milestone for Bitcoin and for the entire crypto-financial space. A bank offering crypto-assets is a game changer, as it gives institutional clients and high net worth individuals a counterparty in regard to crypto-assets upon which they can rely: A regulated Swiss bank. While the volatility of crypto-assets has historically been very high, the trend the past few years has been very positive, as adaption has grown, with the Falcon Private Bank offering now definitively bridging the gap between crypto- and traditional finance. This past year, high net worth individuals and institutions have increasingly demanded access to directly invest and diversify into Bitcoin through a trustworthy and regulated financial institution, and we are excited to be a part of realizing this demand through our collaboration with Falcon Private Bank. This announcement marks a major leap for Bitcoin as an asset class and indeed for all the crypto-assets. The door has been opened wide for an entirely new class of investors to engage in the crypto-asset market. As the blockchain industry grows worldwide, we are evermore confident that other institutions will follow Falcon Bank’s innovative lead in offering clients direct access to digital currencies and crypto-assets. Switzerland is not only historically one of the most important and trustworthy financial markets in the world, it is also currently at the forefront of FinTech development, and has probably the most progressive regulatory framework for crypto-finance anywhere in the world. That is particularly interesting for both established companies and start-ups engaging in the crypto-financial space, since the transparent and progressive regulatory approach of the Swiss financial market supervising authority, the FINMA, has created clear rules of engagement for dealing with digital finance.”

Based near Windsor, England, Matthew Warner is an enthusiast for innovative, cutting edge technologies. He is a B.Eng. graduate in engineering with honors from the University of Warwick and also holds an PGCE in education degree. Matthew is a member of Mensa.
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