Crypto Wealth Management Started By Falcon Private Bank
Swiss private bank Falcon is offering clients a compliant process for investing wealth generated from trading in cryptocurrencies.
Banking clients will be able to place their wealth originating from crypto assets and convert into fiat currency with Zurich-based bank Falcon.
The bank applies due diligence to analyse the transaction history on the blockchain for anti-money laundering and to be informed of client laws and regulations.
Martin Keller, CEO Falcon Private Bank, says the bank’s auditor PricewaterhouseCoopers has reviewed and approved the process.
“With this initiative, we anticipate an increase in client demand for Falcon’s blockchain asset management services. Considering the latest developments of crypto assets, the launch of this innovative new offering is timely.”
Last year was the first time the bank moved into the cryptocurrency space, providing for his clients blockchain asset management services with currency exchange Bitsuisse. Clients will be able to exchange their bitcoins via Falcon using their cash holdings.
Additionally, a Bitcoin ATM has been installed in the lobby of the bank’s headquarters in Zurich and is accessible to the public during business hours.