Swiss bank ‘Falcon’ launches Litecoin & Crypto wallets with fiat conversion.
Private Swiss based bank, Falcon, announced on Janurary 21st, support for direct transfers of select digital currencies for both its private and institutional clients. The move makes Falcon the first private bank in Switzerland to do so.
Falcon strengthens its first-mover position in blockchain banking by introducing direct transfers of cryptocurrencies
Falcon’s Support takes immediate effect with this announcement. Its clients are now able to transfer and store their digital assets in Falcon’s ‘Segregated Wallets’ as well as convert between fiat and crypto. This offering, Falcon is proud to declare, makes blockchain assets ‘fully bankable’.
“Falcon has once more seized the opportunity to demonstrate its expertise as a market leader in the digital assets space by merging traditional private bankingservices with innovative financial solutions.”
- Martin Keller, CEO Falcon Private Bank
Clients of Falcon may place trading orders online with the bank or through a relationship manager and all digital assets are recorded in tax related documents thus providing another level of integration, scarcely seen in the space. All assets held are ‘securely stored’ with their own proprietary custody solution.
Falcon has also developed a process to ensure it remains in compliance with Swiss based KYC/AML laws, having originally been authorised in July 2017 to manage blockchain-based assets, following approval from the Swiss Financial Supervisory Authority (FINMA).
Falcon’s multi-level protection covers hardware, software and the transaction process. Our custody solution has been audited and reviewed by independent providers.
With over 50 years in banking and headquarters located in Zurich, London, Luxembourg and Dubai, Falcon is strengthening what it says is it’s relentless commitment to superior performance, financial strength and stability.