Falcon Group today became the first Swiss private bank to provide blockchain asset management solutions for its clients through a newly announced cooperation with Bitcoin Suisse AG. Clients can exchange and hold bitcoins via Falcon using their cash holdings.
After an in-depth inquiry, the Swiss financial regulator FINMA gave its approval for the launch of the product. The solution aims to facilitate easy access to blockchain assets with a convenient storage process.
Additionally, a Bitcoin ATM has been installed in the lobby of Falcon Private Bank’s headquarters in Zurich and is accessible to the public during business hours.
Arthur Vayloyan, Global Head Products & Services, Falcon Private Bank Ltd. 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 fulfill our clients’ future needs.”
MME acted as the legal advisor and PricewaterhouseCoopers as the auditor in the approval process.