- A Swiss Bank has just launched crypto wallets
- Falcon can now support storage of several cryptocurrencies
- This new move strengthens their relentless commitment to delivering superior performance
Last week Switzerland-based bank Falcon launched support for storage of several cryptocurrencies alongside fiat accounts. It also supports direct transfers for both its private and institutional clients. The direct transfer comes from the institution’s very own segregated Falcon wallets, where they even offer to convert crypto into fiat money. This makes them the first private bank to offer these services.
A big step for adoption
Falcon has even improved its blockchain banking’s first-mover position by having direct transfers of cryptocurrencies. Their support services are already online.
In a statement by the bank’s CEO, Martin Keller, he said:
“Falcon has once more seized the opportunity to demonstrate its expertise as a market leader in the digital assets space by merging traditional private banking services with innovative financial solutions.”
Those who avail the services of Falcon can now place their trading orders online with the bank. All of the digital assets will be recorded in tax related documents, offering another level of integration. This service is scarcely seen in the crypto space, making it an advantage for the bank. Moreover, the assets held will be securely stored as Falcon has their very own proprietary custody solution.
Half a year in the making
The Swiss bank has even created a new process to help ensure it stays in compliance with any of the Swiss based KYC/AML laws. The bank was originally authorized in July 2017 to manage blockchain-based assets. This happened following the approval from the Swiss Financial Supervisory Authority or FINMA.
With their multi-level protection, users can safeguard their software, hardware, and the transaction process. Their custody solution has been audited and reviewed by independent providers.
Falcon has over 50 years experience in banking. They also have headquarters in Zurich, London, Luxembourg and Dubai. The launch of crypto wallet only strengthens it’s relentless commitment to delivering superior performance, stability, and financial strength.