Zurich-based Falcon Private Bank has entered a partnership with Bitcoin Suisse to offer blockchain asset management solutions.
Bitcoin asset management has received Finma approval and the product now allows clients to exchange and hold bitcoins via Falcon using their cash holdings.
According to the group, it is the first Swiss private bank to enter the market as it facilitates access to blockchain assets and a convenient storage process.
A bitcoin ATM has been installed in the lobby at Falcon Private Bank’s Zurich headquarters, which will be accessible to the public during business hours.
The new product comes as part of a larger strategic repositioning for the private bank and follows its recent partnership with Move Digital, a digital asset management provider.
Commenting on the initiative, Niklas Nikolajsen CEO of Bitcoin Suisse said: ‘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.’