Swiss Private Bank to Add Support for Ether, Litecoin and Bitcoin Cash
Switzerland's Falcon Private Bank will begin supporting ether (ETH), litecoin (LTC) and bitcoin cash (BCH) on August 22, 2017, expanding its blockchain asset management services to more digital currencies.
Last month, Falcon Private Bank became the first Swiss private bank to enter the cryptocurrency asset management market with bitcoin following approval from the Swiss Financial Market Supervisory Authority (FINMA), Switzerland's financial regulator.
Through a cooperation with Bitcoin Suisse, a regulated Swiss financial intermediary, the bank began allowing its clients to purchase, exchange, and hold bitcoin. It also installed a Bitcoin ATM in its headquarters in Zurich that's been accessible for the public during business hours.
The move was qualified as "a historic milestone for the entire crypto space."
"The first reactions to our Bitcoin services have been very encouraging and we are convinced that by adding three new blockchain assets we will fulfill our clients’ future needs," said Arthur Vayloyan, the global head of products and services of Falcon Private Bank.
Now with the addition of ETH, LTC and BCH, Falcon Private Bank's clients will be provided with broader portfolio diversification possibilities as well as the same easy access and convenient offline storage within the bank. The new features are supported by its partner Bitcoin Suisse.
"Bitcoin Suisse is proud to continue to support Falcon Private Banks product offering in the field of crypto-assets," said Niklas Nikolajsen, CEO of Bitcoin Suisse.
"Falcon Private Bank was the first bank to offer Bitcoin directly to its clients, and thus created history. Their 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."
Bitcoin Suisse, a provider of cryptocurrency and blockchain asset financial services and products for individuals, companies and institutions, is known for supplying the cryptocurrency payment solution infrastructure for the city of Zug, which became in July 2016 the first public entity in the world to access Bitcoin and other cryptocurrencies for public services.