Switzerland's financial markets regulator has approved the first Swiss private bank for bitcoin asset management, potentially paving the way for other global banks to offer digital currency products.
Zurich-based Falcon Private Bank announced Wednesday that the Swiss Financial Market Supervisory Authority, or FINMA, gave the bank the green light on managing assets based on the blockchain technology behind bitcoin and other digital currencies.
Falcon has installed a bitcoin ATM in its Zurich headquarters lobby that allows clients to withdraw bitcoin to their phones. As a private bank, Falcon has an official minimum of 2 million Swiss francs for clients, but Vayloyan said the firm could consider clients with assets of more than several thousand francs.
Trader I. Ivanov
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.