Santander Unveils Plan For BTC & ETH Trading In Switzerland
Banco Santander, a financial services giant, has made waves by revealing plans to provide Bitcoin and Ethereum trading options exclusively for high-wealth account holders in Switzerland.
Though unconfirmed by the bank itself, an internal source has disclosed that clients choosing these services via Relationship Managers will have their assets protected in a regulated custody model, incorporating an extra security measure with the handling of private cryptographic keys.
Will FINMA Allow Santander to Operate on Cryptos?
The Swiss Financial Market Supervisory Authority (FINMA), the country’s financial regulatory authority, controls all aspects concerning crypto regulation and other digital asset services such as decentralized finance (DeFi).
To maintain the laws and regulations of the nation’s crypto rules, Santander may find it a bit easier to operate in Switzerland compared to other countries. As long as firms, fintech startups, exchanges, and banks have the license to operate under the guidelines of FINMA, Santander will not face any issues.
While many retail banks are struggling to find a spot to fix their roots on crypto land, Santander has shown a great approach starting with Switzerland. Previously, the investment bank was registered under the French regulator as a crypto custodian.
The company has been granted digital asset service provider (DASP) certification by France’s Financial Market Supervisory Commission (AMF) to deliver the services it claims.
Also Read: Mastercard Taps Feedzai To Fortify Defense Against Crypto Frauds
Bitcoin, Ethereum Prices Reacts Positively
Bitcoin and Ethereum have been seen complementing each other. The largest crypto by market cap, Bitcoin price soared 2.23% to trade at $37,273.87, while the Ethereum price added 4.14% to $2,031.11 over the last 24 hours.
The rise of both could be driven by multitudinous reasons. The recent developments in the field of ETF are one of the reasons. Spot Bitcoin ETF, which is still under the scrutiny of the SEC is yet to be allotted to the 12 firms in the queue.
The recent announcement of Spot Ethereum ETF filling by BlackRock has created a spark in the market again. The news fuelled the prices of ETH, leading to an 8% rise in just 14 days.
If the applications are passed by the SEC, experts have predicted that both Bitcoin and Ethereum will see major price changes.
Also Read: Pepe Coin Soars As Devs Deposits Over 400 Bln PEPE To Binance
- Pi Network Mainnet to Get Major Upgrade in Q4, Says Expert
- Bitwise Solana ETF to Launch This Week as It Amends Staking, Fees? Bloomberg Weighs In
- Canary Capital Trump Coin ETF Secures DTCC Listing as Expert Predicts Price Breakout
- Polymarket Founder Shayne Coplan Teases Potential POLY Token After $2B ICE Deal
- FOMC Minutes Signal Fed Open to More Rate Cuts This Year, Bitcoin Bounces
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
