ADVERTISEMENT

Arab Switzerland Bank accepting cryptocurrencies: Swiss crypto interest increasing?

ADVERTISEMENT

Must Read

Bitcoin rises to $8,000 as Britain reaches a Brexit deal – Bitcoin News

Today marks a historic day as the European Union, and Britain reached a Brexit deal. Many experts and analysts...

BTC.com and Antpool co-discover the same block – Bitcoin Mining News

Bitcoin network initiated a rare event where two highly competitive pools co-discovered the same block. In the end, one...

Infamous Darknet website that sold credit cards gets hacked – Dark Web News

BrainsClub, a well known Darknet website, got a taste of its medicine as a hacker, stole the information from...

As more and more banks are collaborating with fintech firms to enter the growing list of well-known players entering the crypto assets world. Recently, Arab Bank Switzerland has decided to team up with the blockchain technology firm Taurus, and together they will offer access to BTC and ETH for its wealthy clients.

With this partnership, they will launch certain digital asset services, including custody and brokerage of the two largest cryptocurrencies. This partnership will use the Taurus Project for crypto storage and services.

Arab Bank CEO Serge Robin stated that blockchain is the technology that will enter the financial industry soon and bring massive changes, and they wish to be amongst the first banks to offer the services. As cryptocurrencies are gaining popularity, more people are getting attracted to them.

Wealthy people have shown interest in adding cryptocurrencies in their investment portfolios. However, banks have been avoiding dealing in cryptocurrencies because of the regulators that continuously force them to set aside a certain amount of money to cover potential losses.

Taurus has established a partnership with Bank Vontobel with so-called Digital Asset Vault. Julius Bear announced to enter the crypto assets world by teaming up with crypto bank SEBA. Falcon Private Bank and Swissquote are also active in the crypto assets department.

While all these partnerships were happening, SEBA and Sygnum were recently awarded banking and securities dealer license from the FINMA. The Swiss financial regulators and lawmakers have shown their interest and willingness to set rules that will allow the usage of crypto assets in the financial sector.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

Leave a reply

Please enter your comment!
Please enter your name here

Latest News

Bitcoin rises to $8,000 as Britain reaches a Brexit deal – Bitcoin News

Today marks a historic day as the European Union, and Britain reached a Brexit deal. Many experts and analysts...

More Articles Like This