Sunday, 05 July 2020

Falcon introduces direct transfers of selected cryptocurrencies

Swiss private bank Falcon has introduced direct transfers of selected cryptocurrencies for both private and institutional clients.

With immediate effect, Falcon clients can directly transfer cryptocurrencies to and from segregated Falcon wallets, as well as convert them into fiat money. Falcon says that this new offering makes blockchain assets fully bankable.

Clients can place trading orders conveniently through e-banking or a dedicated relationship manager. Digital assets are included in portfolio statements as well as in tax reporting documents. In addition to ensuring best execution, Falcon provides secure storage thanks to its proprietary custody solution.

The bank has developed a process that ensures full compliance with AML (anti-money laundering) and KYC (know your client) laws and regulations. Falcon’s multi-level protection covers hardware, software and the transaction process. The bank says its custody solution has been audited and reviewed by independent providers.

Martin Keller, CEO Falcon Private Bank, says: “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.”

For direct transfers, Falcon currently accepts Bitcoin, Bitcoin Cash, Ether and Litecoin.


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