Swiss Private Bank to Add Support for Ether, Litecoin and Bitcoin Cash

By James Gray·16 August 2017·1 min read

Key Points

Falcon Private Bank will expand its cryptocurrency offerings on August 22, adding Ether, Litecoin, and Bitcoin Cash to its platform.
Last month, the Swiss bank became the first private bank in the cou

Falcon Private Bank will expand its cryptocurrency offerings on August 22, adding Ether, Litecoin, and Bitcoin Cash to its platform. Last month, the Swiss bank became the first private bank in the country to offer bitcoin, following approval from FINMA, Switzerland's financial regulator. The bank partnered with Bitcoin Suisse, a licensed Swiss financial intermediary, to let clients buy, sell, and store bitcoin. A Bitcoin ATM in Falcon's Zurich headquarters serves walk-in customers during business hours.

728×90

Arthur Vayloyan, who heads products and services at Falcon, cited strong early demand for bitcoin services. "The first reactions to our Bitcoin services have been very encouraging and we are convinced that by adding three new blockchain assets we will fulfill our clients' future needs," he said. The new assets let clients hold a wider range of cryptocurrencies while keeping digital coins in offline storage within the bank.

Bitcoin Suisse built the technical backbone for the new offerings. Niklas Nikolajsen, CEO of Bitcoin Suisse, pointed to Falcon's significance. "Falcon Private Bank was the first bank to offer Bitcoin directly to its clients, and thus created history. Their decision to follow up by adding Ether as well as other crypto-assets has made them the go-to private bank for crypto-asset holders and investors," he said.

Bitcoin Suisse began supplying blockchain payment infrastructure to Zug in July 2016, making the Swiss city the first public entity to accept bitcoin and other cryptocurrencies for municipal services.

MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.

728×90