Falcon Group is the first Swiss private bank to provide blockchain asset management solutions for its clients through a new partnership with Bitcoin Suisse.
Following approval by FINMA for Bitcoin asset management, Falcon clients can now exchange and hold Bitcoins via the bank using their cash holdings. 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.
Arthur Vayloyan, Global Head Products & Services, Falcon Private Bank, says: “Following our strategic partnership with Move Digital, a best-in-class provider of digital asset management and investment advisory systems, 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.”
“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,” says Niklas Nikolajsen, CEO, Bitcoin Suisse AG.
MME acted as the legal advisor and PricewaterhouseCoopers as auditor in the approval process.