Switzerland's private bank Falcon headquartered in Zurich announced the launch of direct cryptocurrency transfers. The new service will be available for both individuals and institutional investors.
The company stated in the press release of January 21 that the new service will allow direct transfers of "cryptocurrencies to and from segregated Falcon wallets". Moreover, the users will also be able to convert cryptos into fiats.
"This new offering from Falcon makes blockchain assets fully bankable," reads the statement.
Notably, Falcon stated that the assets would be added to the "portfolio and tax reporting documents". At present, Falcon Private Bank deals with bitcoin, Bitcoin Cash, Ethereum and Litecoin.
Martin Keller, CEO Falcon Private Bank commented:
“Falcon has once more seized the opportunity to demonstrate its expertise as a market leader in the digital assets space by merging traditional private banking services with innovative financial solutions.”
Along with the crypto transfers, the bank also announced its custody solution for secure storage of the assets. As the company noted it fully complies with AML and KYC policies. Moreover, it was also highlighted in the press release that "custody solution has been audited and reviewed by independent providers".