Falcon Group is the first Swiss private bank to provide blockchain asset management solutions for its clients through the new cooperation with Bitcoin Suisse AG.
Clients can exchange and hold Bitcoins via Falcon using their cash holdings.
Arthur Vayloyan, global head of products and services at Falcon said:
"People here are thinking this is beyond bitcoin. This is a new chapter in how we exchange money. As a financial services partner, I think we have to become part of that strategy.I would assume it would not be long before the rest of the banking sector will follow suit.The genie is out of the bottle and crypto assets bring a value proposition that you can't ignore."
Additionally, a Bitcoin ATM has been installed in the lobby of Falcon Private Bank’s headquarters in Zurich and is accessible for the public during business hours.
After an indepth enquiry, FINMA has given its approval for the launch of this unique new product.