According to its latest announcement, one of Switzerland’s oldest financial institutions, Bordier & Cie, has joined the crypto bandwagon.
Bordier & Cie Joins The Crypto Club
The 177-year-old private banking services provider said it had joined forces with B2B digital assets banking platform Sygnum to enable its customers to own digital assets.
The applaudable partnership will allow Bordier’s clients to acquire Bitcoin, Ethereum, Bitcoin Cash, and Tezos.
The private Swiss firm sees the union as a foundation for a broader offering of regulated digital asset products and services, including trading options and tokenized assets class.
Bordier said its decision was backed by increasing demand from customers to gain exposure to the volatile assets to diversify their investment portfolio better. Bordier also spoke about the potential high returns crypto has brought in a short period of time.
Clearly stating that the burgeoning assets class was becoming something of a financial goldmine, the company noted that cryptocurrencies, especially Bitcoin, were a trillion-dollar industry ripe for the picking.
Evrard Bordier, a managing partner at Bordier & Cie’s SCmA, said they had received requests from their clients concerning the high-performing assets. He further said their recent partnership with Sygnum’s B2B banking platform is a one-stop, integrated solution that will empower their customers to invest in the high-growth assets class with complete trust.
Sygnum’s role in the partnership will be to provide digital assets specialist expertise like safekeeping of private keys, selecting and connecting clients to liquidity providers (crypto exchanges), ensuring compliance with best crypto anti-money laundering (AML) practices, and transactions monitoring.
Bordier, on the other hand, will be tasked with the duty of maintaining client relationships.
Crypto Permeating Swiss Financial Ecosystem
Even though the Swiss government has not been entirely pre-disposed towards private ownership of crypto-assets, many Swiss companies are looking at the best way to make an entrance into the flourishing trade without tripping mines.
21Shares is such a privately-held Swiss financial firm that has made a mark in the crypto markets in Europe. The cryptocurrency exchange-traded products (ETPs) provider recently announced a 100% growth in its assets under management (AUM).
On Monday, the company said that it had surpassed the $1 billion mark in its AUM across its 12 cryptos ETPs. According to company CEO Hany Rashwan, this unprecedented feat was achieved in under two weeks. Rashwan said increased institutional demand for indirect exposure through ETPs had surpassed their previous $500 million marks in AUM.