177-Year-Old Swiss Bank Adds Support For Bitcoin And Other Cryptocurrencies

Bordier & Cie SCmA, a Switzerland-based bank that was founded in 1844, has added digital asset trading to its list of services, as per a recently published press release.

Evrard Bordier, the Managing Partner of the bank mentioned,

“We have seen increasing demand from our clients to diversify into alternative asset classes such as digital assets.”

The new facility provided by the bank permits Bordier’s clients to purchase, hold and trade virtual assets. These primarily include Bitcoin, Tezos, Ethereum, and Bitcoin Cash. The bank plans to expand the number of cryptocurrencies it offers for trading in the future.

It is to be noted that Sygnum Bank is providing the infrastructure administration that will safekeep the private keys that control admittance to the cryptocurrencies, connect with liquidity providers, and monitor dealings. It will also guarantee that the bank has AML procedures for its virtual currency holdings.

Mathias Imbach, the CEO of Sygnum’s group mentioned,

“Bordier continues its 177-year tradition of safeguarding clients’ wealth for future generations by offering the ‘next generation’ of assets to its clients.”

Furthermore, Bordier emphasized that the service is an execution-only sort of arrangement, which signifies that the bank won’t offer any supplementary advice or consulting services apropos digital assets.