Economy

Falcon group launches blockchain asset management service

Falcon group launches blockchain asset management serviceā€

Falcon clients will be able to exchange and hold bitcoin using their cash holdings, and will gain access to blockchain assets with a convenient storage process.

The aim of the collaboration is to make Move Digital's Digital Asset Management and Investment Advisory Platform available to the rich clientele of the bank. Clients can check their bitcoin balances online, or via traditional bank statement.

Falcon claimed it was "writing history" by becoming the first private bank in the world to offer clients direct exposure to bitcoin and crypto assets.

Zurich-based Falcon Private Bank had the dubious honour of being the second bank forced to shut down in Singapore because of ties to alleged corruption and money-laundering, over its dealings with 1MDB, a Malaysian state fund which remains at the center of a billion-dollar graft probe.

Falcon has gone all in, installing a bitcoin ATM (automated teller machine) in the lobby of its Zurich branch near the Paradeplatz banking district.

According to Falcon, the new product represents a change in focus towards providing a unique client experience and digital excellence.

The firm, which has an office in London, will work in co-operation with Bitcoin Suisse AG who provide the infrastructure.

"Bitcoin Suisse is proud to support Falcon Private Bank in this historic product offering". Its value has still more than tripled in the previous year. Although crypto-assets have always been rather volatile, it is necessary to note the obvious improvement and boost in confidence taking place recent years.

This service, approved by Swiss financial regulator Finma, underlines the strategic repositioning of Falcon. With a few bank's worldwide beginning to offer bitcoin asset management services to clients, Nikolajsen is confident that other institutions will follow Falcon Bank's lead.

The broker has helped build a suite of bitcoin products, while providing services required to acquire, safeguard, track and trade crypto-assets for institutional and high net worth clients.

'This announcement marks a major leap for Bitcoin as an asset class and indeed for all the crypto-assets. "The door has been opened wide for an entirely new class of investors to engage in the crypto-asset market", Nikolajsen added. Let us know in the comments below.

Do you ever have any question about anything you wish to ask and get answer?



Like this

Latest


13 July 2017
Kulbhushan Jadhav case: Pakistan considering Sushma Swaraj's visa request for his mother
The ICJ, in turn, wrote to Pakistan Prime Minister Nawaz Sharif asking him to stay the death sentence of the Indian national.

13 July 2017
Aric Almirola Returning To Richard Petty Motorsports at Loudon
Three drivers filled in for the organization during Almirola's recovery - Regan Smith , Billy Johnson and Darrell Wallace Jr. Almirola had to be cut from his auto and was transported to an area hospital where he was kept overnight.

13 July 2017
Donnie Wahlberg drops $2000 tip at Waffle House before New Kids show
Wahlberg posted a almost 11-minute video of his visit on his Facebook page around midnight Wednesday, according to the Observer. Wahlberg then says to Jasmine, "If you need more than 4 tickets just let me know. we'll get you 10 tickets, you let us know".

13 July 2017
Delta Natural Gas Company, Inc. (NASDAQ:DGAS) Valuation According To Analysts
The utilities provider reported $1.40 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $1.41 by $0.01. TRADEMARK VIOLATION NOTICE: This news story was first posted by Sports Perspectives and is owned by of Sports Perspectives.

13 July 2017
A suspected Taiwanese drug smuggler has been shot dead by Indonesian cops
A suspected Taiwanese meth smuggler named as an worldwide drugs ring leader was shot dead by an Indonesian police force Thursday. Police said the drugs were valued 1.5 trillion rupiah (about 112.3 million USA dollars), to be distributed in Jakarta.

13 July 2017
Appeals court overturns conviction of Sheldon Silver
In the Silver case, the appellate court decided that the trial court judge gave faulty instructions to the jury. Supreme Court ruling on official conduct involving former Virginia Governor Bob McDonell.

13 July 2017
Man Gets Stuck in ATM, Slips 'Help Me' Notes Through Slot
Later the contractor supervisor arrived, and police had to kick down a door to get the gentlemen out of the ATM room. CCPD said the worker was stuck in the ATM for about two hours before his boss showed up and set him free.

13 July 2017
Analysts See $0.48 EPS for Gildan Activewear Inc (USA) (GIL)
It has underperformed by 20.11% the S&P500.The move comes after 7 months negative chart setup for the $6.93B company. It also reduced Goldman Sachs Group Inc (NYSE:GS) stake by 7,318 shares and now owns 71,280 shares.

13 July 2017
Chelsea Clinton Claps Back To Trump's Snide Comment About Her Mom
A World Bank source told CNN in May that Ivanka Trump played an "instrumental" role advocating for the facility. But during the president's first two trips overseas , she's taken on a far more prominent role.

13 July 2017
How Analysts Feel About Delta Air Lines, Inc. (NYSE:DAL)?
The transportation company reported $0.77 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.73 by $0.04. The stock's 50 day moving average is $50.96 and its 200-day moving average is $48.99. $492,000 worth of Delta Air Lines, Inc .



Recommended