Falcon Group has become the first Swiss private bank to offer a blockchain asset management solution, through a partnership with Bitcoin Suisse AG.
The move comes following approval from the Swiss Financial Market Supervisory Authority (FINMA) for bitcoin asset management, and Falcon’s recent partnership with Move Digital, a provider of digital asset management and investment advisory systems.
Falcon clients will be able to exchange and hold bitcoin using their cash holdings, and will gain access to blockchain assets with a convenient storage process.
According to Falcon, the new product represents a change in focus towards providing a unique client experience and digital excellence.
Arthur Vayloyan, global head of products and services at Falcon Private Bank, said: "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 fulfil our clients' future needs."
Niklas Nikolajsen, CEO of Bitcoin Suisse, added: "It has been a pleasure assisting Falcon in realising this new product, which is nothing less than a historic milestone for the entire crypto space."
