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Falcon Private Bank to offer bitcoins

Falcon Private Bank, a private bank in Switzerland, is proposing to include cryptocurrencies in its newly launched digital asset management service. The bank said it would allow its customers to buy and hold bitcoins within their accounts through a partnership with brokerage service Bitcoin Suisse. The bank has introduced the facility after consultations with Swiss regulators, including the Swiss Financial Market Supervisory Authority (FINMA). Customers of the bank will be able to start buying and holding those cryptocurrencies from August 22. This is the first time a traditional bank has moved to offer cryptocurrency services to its clients. The bank had more than $14 billion in assets under its control. At the time of its bitcoin service launch, Falcon also installed a bitcoin ATM in its Zurich headquarters.

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