"Recently, the Swiss financial market regulator has approved a bitcoin-based asset management bank, which will create a precedent that will enable it to open other global bitcoin banks."
The licensed bank, Falcon Private Bank, has announced that the Financial Market Authority of Switzerland (FINMA) has accepted the offer to operate on asset classes such as bitcoin or digital money. other.
Director of products and services of Falcon, Arthur Vayloyan commented: "The people here are thinking not just stop bitcoin. This is a new chapter for the currency exchange system in the world. "
Falcon began discussing the management of bitcoin assets from January this year and now has $ 15.13 billion in assets managed by a series of offices in Zurich, Abu Dhabi, Dubai and London.
The company will access the bitcoin system through its Swiss broker Bitcoin Suisse. Niklas Nikolajsen, chief executive of Bitcoin Suisse, said the Swiss authorities were concerned about protecting consumers 'and consumers' interests rather than the use of bitcoin for illegal activities such as washing money.
According to Nikolajsen, this move will stimulate many banks and property management companies to seek new direction in the bitcoin industry because the value of profit generated from this segment is huge.
Switzerland is a country known as the market leader in finance. The economy is also one of the regular destinations of the world's leading financial institutions and is a familiar market for many electronic finance businesses. Currently, the city of Zug-Swiss has been nicknamed "Crypto Valley" by a large number of electronic money trading companies opened here.
The Falcon bank now has a bitcoin ATM at Zurich headquarters, allowing customers to withdraw bitcoin into their phones. As a private bank, Falcon may need to prepare a minimum of 2 million Swiss francs for customer withdrawals.