Falcon Swiss Private Bank enters Bitcoin market

Falcon Private Bank, which is in a state of upheaval, has entered into a cooperation with Zuger Bitcoin provider Bitcoin Suisse. What is behind it.

Customers of Falcon Privatbank can now purchase, sell and manage Bitcoin directly via online banking or via their customer adviser. You can also check your Bitcoin account online – or by means of your account statement.

Falcon is, according to its own data, the first Swiss private bank to provide its customers with blockcoin asset management solutions as part of the new partnership with Bitcoin Suisse. This was announced by the Zurich-based bank on Wednesday.

In addition, a Bitcoin cash machine has been installed in the lobby of the Zurich headquarters of Falcon Private Bank, which is open to the public during business hours.

Continuation of the new beginning

This service, approved by Finma, underlines the strategic repositioning of Falcon.

The Zurich private bank, struck by the 1MDB scandal, called for a new beginning last March. Against this backdrop, Falcon entered a strategic partnership with Swiss Fintech Move Digital last April, as finews.ch reported. The aim of the collaboration is to make Move Digital’s Digital Asset Management and Investment Advisory Platform available to the rich clientele of the bank.

Bitcoins at the banks

Niklas Nikolajsen, founder and CEO of Bitcoin Suisse, described the cooperation with Falcon as a “historic milestone” for the entire cryptosector.

Thus, Nikolaisen is following his announcements in September 2016. Speaking with finews.ch, he announced at the time that European banks will soon offer bitcoin accounts.

The fact that Bitcoins gradually began to be borne by the banks is also illustrated by the launch of a tracker documentary on bitcoins, which Bank Vontobel recently had listed on the Swiss stock exchange. The canton of Zug, because of its many blockchain startups also called “Crypto Valley”, acknowledges Bitcoin as a means of payment for public services.

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