The world’s first! Swiss private banks allowed to provide bitcoin financial products

The world’s first! Swiss private banks allowed to provide bitcoin financial products

   

Swiss financial market supervisory authority has approved a private bank in the country to provide bitcoin asset management services, so as to provide digital currency products set a precedent for other banks in the world.

Headquartered in Zurich Anqin private bank (FalconPrivateBank) announced on Wednesday that the Swiss financial market supervisory authority (FINMA) has been approved for the management of the assets based on block chain technology.

The global products and services director ArthurVayloyan CNBC interview said, this significance is far more than the bitcoin itself, this is a new chapter in currency exchange. As a financial industry partner, I think we have become a part of this strategy.”

He said that the line started in January this year the asset management problem of bitcoin formal discussion, and submit the application on 23 June, regulatory agencies, and quickly approved on July 11th (Tuesday). An often private bank has 14 billion 600 million Swiss francs ($15 billion 100 million) of client assets, with offices in Zurich, Abu Dhabi, Dubai and london.

The Bank of Switzerland by BitcoinSuisse digital currency brokers get bitcoin. BitcoinSuisse CEO NiklasNikolajsen CNBC said on the contrary, many people expected that the Swiss authorities are more concerned about consumer protection issues, rather than bitcoin is the possibility for illegal activities.

He said: “I think it won’t be long before other banks will begin to follow. Genie is out of the bottle, the encryption of monetary assets brings an important value proposition.”

Leave a Reply

Your email address will not be published. Required fields are marked *