Swiss Bank Border & Cie SCmA Partners With Sygnum Bank To Offer Cryptocurrency Services
Swiss Bank Border & Cie SCmA has announced that it will offer trading in bitcoin and other cryptocurrencies. This heralds a new development for the Swiss bank as it looks to get a first-mover advantage in the growing crypto industry.
Crypto Service Facilitated by Sygnum Bank
Border & Cie SCmA revealed this latest development in a press release today, highlighting the different crypto features it would be offering. According to the report, Bordier has partnered with the Crypto-based firm Sygnum bank for the initiative.
Bordier will also integrate Sygnum’s bank, B2B solution within its existing financial infrastructure as part of the partnership. The integration would enable Bordier to offer crypto trading services on an execution-only basis. This means that Sygnum will only provide a platform to trade and store cryptocurrencies for Bordier customers without any additional trading services.
Bordier further revealed that clients’ increasing demand for cryptocurrencies had driven the bank to expand its services. Users will be able to trade Bitcoin, Ethereum, Bitcoin Cash, and Tezos within the bank’s regulated environment. The bank also stated that it could expand its offering to more clients in the future and add more cryptocurrencies.
Evrard Bordier, managing partner of Bordier & Cie SCmA revealed that the decision to expand its services was to satisfy clients’ demands for digital assets. “We have seen increasing demand from our clients to diversify into alternative asset classes such as digital assets.
He also added that the partnership with Sygnum Bank offers clients a straightforward solution towards investing in crypto-assets. By partnering with Sygnum Bank, we are providing our clients* with a one-stop, integrated solution while empowering them to invest in this new, high growth asset class with complete trust.”
More Banks Expanding Towards Crypto Services
Banks and financial institutions have begun to make inroads into the crypto industry, offering crypto services. The increasing popularity of cryptocurrencies like Bitcoin and Ethereum has caused demand from clients, and financial firms have expanded their portfolios to include crypto services.
Switzerland is a financial haven and has witnessed a foray of banks towards crypto-based services. As one of Switzerland’s oldest banks, Bordier & Cie SCmA foray into crypto services is a great one for the crypto industry.