Swiss Private Bank Falcon Introduces Bitcoin Asset Manage

ZURICH — Wealthy clients of Swiss private bank Falcon will now be able to store and trade bitcoins through their cash holdings with the bank from  todayWednesday 12th 2017, a move that trigal  the surface of virtual currency is gaining even in slow-changing asset management.The group's new blockchain asset management service is being offered in collaboration with cryptocurrency broker Bitcoin Suisse.the company global head of services Arthur Vayloyan said "We are proud to be the first-mover in the Swiss private banking area to provide blockchain asset management for our clients,"  in a statement."Falcon is convinced that the time is right to enter this potential market and it is our firm belief that this new product will satify and fulfill our clients' future needs," he said.Bitcoin, the primary cryptocurrency, relies on "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. The first to solve the puzzle and clear the transaction is rewarded with new bitcoins.

Although some remain skeptical, investors have begun embracing to the technology, wooed by its rapid performance and the potential that the currency can compete with gold and government-issued money as a store of value.Fidelity Investments said in May that clients with bitcoins and other virtual currencies held on digital asset exchange Coinbase would be able to see their holdings on the Fidelity website, making it one of just a handful of large financial services firms to integrate digital currencies into its website.

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source  https://www.nytimes.com/reuters/2017/07/12/business/12reuters-swiss-banks-falcon-bitcoin.html

https://www.reuters.com/article/us-swiss-banks-falcon-bitcoin-idUSKBN19X28L