In addition to bitcoin, it will trade cryptocurrencies such as Ether, Bitcoin Cash, and Tezos. Bordier & Cie bank promises access to a wide range of products linked to digital assets.
The Swiss private bank Bordier & Cie SCmA, an institution working for 177 years with traditional banking services, is currently considering the massive demand for cryptocurrencies and decided to take a step towards the future of finance by exploring the bitcoin market.
The bank, whose foundation took place in Geneva in 1844, recently joined the B2B banking platform Sygnum Bank, one of Switzerland’s first banks that trade digital assets.
To make it easier to develop new services, Sygnum will incorporate its system into the Bordier platform that offers crypto assets. In this way, traditional bank clients will find it easier to buy, sell, exchange, and protect cryptocurrencies like Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Tezos (XTZ).
“With this, Bordier speaks for a more solid offer that includes strategies regarding trading with options, and the chance of investing in assets that were previously hard to reach through tokenization,” the company reported in its statement published on February 24.
The Growth of the Bitcoin Market Attracts More Traditional Companies
After seeing the total value of the cryptocurrency market grow almost four times in 2020, reaching a trillion dollars and motivated by the great demand for these assets, the association between Bordier and Sygnum has managed to complete the project in 60 days, the note says.
The platform also includes research, education, and access to a wide range of digital asset products. Besides, it offers custody of private keys, connectivity with liquidity providers, anti-money laundering digital assets, and transaction monitoring. In this case, Sygnum provides its knowledge in digital assets, while Border participates with the customer service experience.
“Bordier continues its 177-year tradition of keeping safe client wealth for future generations by offering the ‘next generation’ of assets to its clients,” said Mathias Imbach, CEO of Sygnum Bank Group.
Crypto industry and its Increasing Acceptance in Switzerland
Several Swiss banks and institutions have chosen to join the digital assets world and take advantage of its financial improvements. A good example was the partnership between Julius Baer, a traditional bank, and SEBA Crypto AG.
Digital assets have a good reputation as financial products on the stock exchanges of Europe and other parts of the world. Every day, new institutions take part in a movement that no longer looks like just a trend but a profound revolution within the financial system worldwide.
On the other hand, there is a relevant case. The former Swiss financial institution Lombard Odier, which in 2020 created a fund, works with a service that solely focuses on the tokenization of real estate assets, companies, and copyrights. The transactions can even get registration in a blockchain.
By: Jenson Nuñez
