Santander Private Banking International has recently unveiled a new chance for its upscale customers in Switzerland, permitting them to get, market, and invest in the preferred cryptocurrencies Bitcoin and Ethereum.
The Spain-based financial solutions giant, which satisfies over 210,000 rich clients worldwide, exposed in an inner memo seen by CoinDesk that the new crypto trading and safekeeping solutions are being offered upon demand to customers with accounts in Switzerland through their partnership supervisors.
Santander will certainly maintain control of the crypto properties, guaranteeing they are safely stored in a regulated setting, using exclusive secrets kept securely in a secured setup. The financial institution plans to broaden its offerings by adding additional electronic money that meet its rigid screening needs over the future months.
“As holding of crypto as a different property class remains to broaden, we expect that our clients prefer to rely on their existing financial institutions to be responsible for their possessions,” said John Whelan Head of Crypto Assets at Santander.
Switzerland’s cryptocurrency policies are considered some of one of the most innovative worldwide, providing a high level of quality for clients operating within the sector.
Santander, which has actually been in business for over 160 years and counts 166 million consumers, has actually taken a positive position on crypto. While dangers exist, the bank appears to acknowledge the growing relevance of electronic possessions in banking.