Swiss Private Bank Launches Digital Asset Services Including for Bitcoin And Ethereum

September 19, 2019 | Digital Assets, FinTech
https://dailyalts.com/wp-content/uploads/2019/09/geneva-947317_1920.jpg

Arab Bank Switzerland, a leading Swiss private bank, will provide custody and brokerage services for Bitcoin and Ethereum.

Arab Bank Switzerland will target high net worth clients for the services. In doing so, the firm will become one of the first private banks in Europe to offer such facilities for digital assets.

The bank said it was addressing the growing demand from existing and generally younger clients for digital assets services.  That’s because these clients were looking for diversification within their portfolios by adding digital currencies.

Arab Bank Switzerland will use the Taurus Group’s platform

The bank’s digital services will operate on a secure custody platform created by the Swiss fintech Taurus group.

Launched by two former senior private bankers, Taurus is a specialist in crypto assets. It claims to maintain the strictest software and hardware security standards via cryptographic currency standard (III). Also, Taurus is FINMA, FCA, and MAS compliant.

In a parallel announcement, Taurus said it had successfully deployed TAURUS-PROTECT, its cold storage solution for exchanges, banks and institutional clients with Arab Bank Switzerland.

TAURUS-PROTECT is an on-premise cold storage solution that uses FIPS 140-2 level 3 certified hardware security modules (HSMs), some of the most secure hardware in the world.

Blockchain the future

The bank said in its announcement that it expected the blockchain to disrupt the financial industry. Accordingly, it is its intention to be among the pioneering banks to offer digital asset services.

Though the bank has high-tech intentions, it has a rather conservative background. It was created in 1962 in Switzerland to serve as a bridge between the Arab and Western worlds. It is an associate company of Arab Bank plc, one of the biggest banks in the Middle East.

For more, visit Dailyalts.com.

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Alt Insights

January 29, 2020

Venture Capital: The Kobe in “Bryant Stibel & Co”

Venture Capital: The Kobe in “Bryant Stibel & Co”
Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2020/02/bitcoin-2665933_640-binance.jpg
Digital Assets: A Cloud-based, Turnkey Crypto Exchange Solution From Binance
February 18, 2020     Digital Assets

Binance, which is the world’s largest crypto exchange by trading volume, announced Monday the launch of its Binance Cloud. The Binance Cloud is an all-in-one solution for crypto market participants…

https://dailyalts.com/wp-content/uploads/2020/02/currency-3077534_640-polychain.jpg
Venture Capital: Polychain Capital to Raise $200M To Back Crypto Startups
February 18, 2020     Digital Assets, News, Venture Capital

Polychain Capital’s second venture fund, which targets a war chest of $200 million, opened at the beginning of 2020. The crypto venture fund is accepting minimum investments of $1 million…

https://dailyalts.com/wp-content/uploads/2020/02/board-1364655_640-AI-EU-Rules.jpg
Artificial Intelligence: Margrethe Vestager to Announce the EU’s New Regulations For AI Today
February 18, 2020     Artificial Intelligence, Latest News, News

The EU’s rules set to be announced today will thrust on enhancing the region’s competitiveness but will do so with an emphasis on transparency, oversight, and protection of privacy.

https://dailyalts.com/wp-content/uploads/2020/02/window-blinds-932644_640-american-century.jpg
Liquid Alternatives: American Century May Unveil the Very First Non-Transparent ETFs
February 18, 2020     Latest News, Liquid Alternatives, News

Two American Century funds may be the first to test waters as “actively managed” ETFs. Having received the SEC’s approval for its final key filing, Cboe BZX Exchange, Inc. is…

Scroll to Top