Zurich-based private banking group Falcon has launched a bitcoin asset management solution, relying on blockchain technology, for its clients by partnering with Bitcoin Suisse AG.
Falcon Private Bank received the green light of Swiss financial market watchdog Finma.
Concretely, clients can exchange and hold Bitcoins via Falcon using their cash holdings. Also a Bitcoin ATM has been set up in the lobby of Falcon Private Bank’s headquarters in Zurich and is accessible for the public during business hours.
Arthur Vayloyan, global head Products & Services, Falcon Private Bank, said: “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.”
“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,” added Niklas Nikolajsen, CEO, Bitcoin Suisse AG.
'Excellent growth opportunity'