According to a recent official announcement by Arab Bank (Switzerland), the bank plans to expose its customers to cryptocurrencies, starting with Bitcoin and Ethereum. As per their announcement, the Arab Bank (Switzerland) takes this decision in recognition of the fact that the natural home for investors to securely trade and custody digital assets is with banks.
Arab Bank (Switzerland) Exposes Customers To Digital Assets
As a service to be rendered to its customers, Arab Bank (Switzerland) plans to introduce trading and also custody of cryptocurrencies for its customers. The bank offers institutional-level digital assets custody and trading services to both high-net-worth customers and institutional clients. Their customers will now benefit from the security and the safety offered by a well-capitalized and regulated Swiss bank which has more than 50 years of history.
According to Arab Bank, crypto-assets have started to make waves across the globe driven by the emergence of secure, banking-level infrastructure and a purposeful regulatory system.
As from September 2019, Arab Bank Switzerland will offer its clients the advantage of gaining direct exposure to the fast-growing cryptocurrency industry, starting with top crypto-assets Bitcoin and Ethereum.
“Starting from September 2019, Arab Bank offers secure custody, transfer, and trading of Bitcoin, Ethereum and will soon be followed by Ripple.”
Available Services: Trading, Custody, And Transfer
The bank will offer trading, custody and transfer services. With custody services that have been built using advanced technologies and are compliant with Swiss bank regulations, customers will be able to invest in digital assets securely. Upon opening an account, customers will be able to transfer digital assets to their bank’s crypto wallets in a way similar to sending funds to an exchange. Also, clients will be able to buy and sell digital assets with the assistance of a dedicated relationship manager.
“They can buy digital assets to gain exposure to the emerging asset class and diversify their portfolio. They can also sell them to realize their capital gains or generate liquidity.”
Arab Bank Switzerland is a sister bank of Arab Bank Plc. It is independent and draws upon various networks of branches across the Arab region.