Within the scope of expanding the range of digital asset management services, the Falcon Private Bank based in Zurich has announced the addition of support for the crypto currency Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). This is written by CoinJournal.
According to the publication, customers of the Swiss bank will be able to purchase new digital assets from August 22.
"Falcon Private Bank became the first bank offering its clients the services of managing bitcoin-assets," Bitcoin Suisse AG, a partner of Falcon Private Bank, said.
Falcon Private Bank is part of the well-known financial institution Falcon Group. The amount of assets under the control of the Falcon Group is about 14.6 billion Swiss francs.
Recall, Falcon Private Bank was the first bank in Switzerland offering services for managing bitcoin-assets. A corresponding permit was received from the Swiss Financial Market Supervision Service (FINMA).
While I am happy that moves like this will increase the spread and adoption of cryptocurrencies, I am also afraid that the banks will just eat the whole concept, essentially ruining the whole point of it.
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