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Private bank adds Ether and Litecoin to client crypto cash service

Private bank adds Ether and Litecoin to client crypto cash service

Falcon Private Bank has expanded the range of cryptocurrencies its clients can hold in their portfolios following its integration of Bitcoin last month

Falcon claimed to be the first private bank to add Ether (ETH), Litecoin (LTC) to its client cash management, via a partnership with cryptocurrency broker Bitcoin Suisse AG.

Bitcoin Suisse AG will ensure that clients remain compliant with anti-money laundering rules, in addition to providing the underlying architecture. 

Chief executive officer Niklas Nikolajsen said: ‘Bitcoin Suisse is proud to continue to support Falcon Private Bank's product offering in the field of crypto-assets.

'[It's] decision to follow up by adding Ether as well as other crypto-assets has made them the go-to private bank for crypto-asset holders and investors.’

 Falcon - which is headquartered in Switzerland and has branches in London, Dubai and Abu Dhabi - runs around Sfr14.6 billion (£11.8 billion) in assets, has also installed a Bitcoin ATM in the lobby of its Zurich branch.

In June, Hargreaves Lansdown made bitcoin available to retail investors through its Sipp and brokerage accounts in the form of an exchange traded note (ETN).

 

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