Falcon Private Bank, one of many Swiss banks, is expanding their cryptocurrency related services by adding the ability for customers to purchase Ethereum, Litecoin and Bitcoin Cash.
This expansion comes a little more than a month after Falcon Private Bank became the first bank to provide ‘blockchain asset management solutions’ for users of their services. This service came to life through a cooperation with Bitcoin Suisse AG, a “Crypto Financial Service Provider” based in Switzerland.
In addition to this, a bitcoin ATM was installed in the bank’s headquarters to be operational to the public during business hours. Falcon Private Bank had their new services approved by local authorities, namely the Swiss Financial Market Supervisory Authority. As they wrote in their announcement: “After an in – depth enquiry, FINMA has given its approval for the launch of this unique new product.”
The bank’s adoption seems to have come after carefully studying the playing field before moving into the cryptocurrency space. As Arthur Vayloyan, the Head Global Products & Services from the bank, stated: “Falcon is convinced that the time is right to enter this nascent market and it is our firm belief that this new product will fulfill our clients’ future needs.” These discussed changes are planned to be released on August 22.
Following the latest announcement, Niklas Nikolajsen, CEO of Bitcoin Suisse said in a statement that Falcon Bank’s 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”.
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