Falcon purchases crypto wallet to support withdrawals to fiat

Wednesday 23 January 2019 11:15 CET | News

Falcon Private Bank, a Switzerland-based bank, has introduced support for direct transfers and storage of select cryptocurrencies.

As such, both private and institutional investors are now able to directly transfer a selection of major cryptocurrencies to and from the institutions own ‘segregated Falcon wallets’. They are also allowed to convert crypto into fiat money. However, Falcon only supports four cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).

Moreover, the bank has a ‘proprietary custody solution’ that is meant to provide secure storage of digital assets. This custodial service has been audited and examined by third-party providers, and its crypto service is compliant with local anti-money laundering and KYC regulations.

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Keywords: Falcon, Switzerland, cryptocurrency, wallet, withdrawals, Fiat, KYC, AML, transfers, custodial service
Countries: World