Switzerland is a pretty interesting country when it comes to cryptocurrency. A private bank in the country is now selling Ether and Bitcoin Cash to customers. That is pretty unusual, to say the least. The same institution launched a digital asset management service earlier this year. Falcon Private Bank is making some big waves in the cryptocurrency world, that much is evident.
It is rather unusual to see a Swiss bank sell cryptocurrency. Then again, weirder things have happened these past few years. Falcon Private Bank doesn’t hide the fact they believe cryptocurrency has a bright future. Earlier this year, they launched a digital asset management service which includes cryptocurrencies. The list of coins is now a bit larger than before, thanks to the addition of Bitcoin Cash and Ethereum. Customers can purchase these currencies in their bank accounts thanks to a partnership with Bitcoin Suisse.
Another big Move by Falcon Private Bank
It is important to note this digital asset management service has regulatory approval in Switzerland. This is not an unregulated service by any stretch of the imagination. In fact, the Swiss Financial market Supervisory Authority was consulted regarding this project. They have no issues with it so far, although it is evident the group keeps monitoring things closely. The addition of these new cryptocurrencies will prove to be an interesting test. Both Ethereum and Bitcoin Cash have a lot of potential for value gains in the next few years.
These two currencies are both interesting choices. Opting for Ethereum makes a lot of sense, for obvious reasons.Bitcoin Cash is still in a bit of an awkward market position right now, which may come to change in the near future. Falcon Private Bank also plans to add Litecoin come August 22nd. All of these cryptocurrencies will become available for purchase to bank customers on that date. It will be interesting to see if there is any demand for this service, though.
Falcon Private Bank must have some positive results regarding this service so far. After all, the digital asset management product has only been around for one month. Traditional banks moving into the world of cryptocurrency remain a pretty unusual sight, to say the least. It is evident the institution wants to make history in one way or another. So far, the Swiss bank is doing exactly that in its own unique way. Depending on how this project turns out, other banks around the world may follow suit pretty quickly. An intriguing turn of events, to say the least.
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