Santander Private Bank Introduces Bitcoin, Ethereum Trading for Clients in Switzerland
Summary
Santander Private Banking International is offering its high-net-worth clients with Swiss accounts the opportunity to trade and invest in Bitcoin and Ethereum. The announcement was made internally and revealed by CoinDesk. The bank will include other cryptocurrencies in its offering over the next few months. Interestingly, this service will only be provided upon client request and the assets are intended to be held in a regulated custody model. Despite cryptocurrency's risks, the head of crypto and digital assets at Santander praised Swiss regulation related to digital assets and anticipates more clients will want to invest. The bank mainly serves wealthy clients, managing assets and deposits worth about $315 billion.
