Published On: Fri, Jul 14th, 2017

Switzerland’s Private Banking Sector Offering Bitcoin as an Asset

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Switzerland’s Falcon Private Bank has partnered with a local Bitcoin exchange giving the financial institution the opportunity to offer Bitcoins, as well as altcoins, to its customers through asset portfolios.

On Wednesday, Falcon Private Bank took major steps in a number of avenues within digital currency when it announced that it would be storing and trading Bitcoin within its asset infrastructure. Wealthy customers of the bank will now be able to branch out into digital currencies, allowing them to hold, buy and sell Bitcoin directly through the bank.
It is a move that many have expected to see for some time as slow moving financial institutions like banks and asset management finally come around to the idea of digital currency and the markets that they are building.

A Pioneering Nation
Switzerland has pioneered the way for digital currencies of late with its light touch in terms of regulations. Bitcoin-based businesses have been categorized under the same lenient laws that also control financial technologies, separate from the usual banking licensing and red tape.
Falcon bank received the green light from the regulators in the country, setting a new precedent for private banks. It is an …

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