Swiss Falcon Private Bank has introduced direct transfers of crypto and crypto-fiat withdrawals.
The bank announced that both private and institutional investors can now directly transfer a selection of major cryptocurrencies to and from the institution’s own “segregated Falcon wallets,” as well as convert crypto into fiat money.
In the press release, the private bank also mentions its “proprietary custody solution” that it claims to provide secure storage of digital assets. Falcon’s custodial service has been audited and examined by third-party providers, the company stated. The bank also states that its crypto service is compliant with local Anti-Money Laundering and Know Your Customer regulations.
Falcon Private Bank was first authorized to manage blockchain-based assets in July 2017, following approval from the Swiss Financial Supervisory Authority (FINMA).
In late December, FINMA published rules for their fintech license, with blockchain assets-related companies reportedly set to begin applying for the license starting from 2019.
Visit the USSA News store!
Click this link for the original source of this article.
Author: Helen Partz
This content is courtesy of, and owned and copyrighted by, https://cointelegraph.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact the USSANews.com administrator by using the contact form located in the top-left menu. Your request will be immediately honored. Please visit https://cointelegraph.com for more terrific, conservative content. The owner of this website may be paid to recommend American Bullion. The content of this website, including the positive review of American Bullion, the negative review of its competitors, and any other information may not be independent or neutral.