Santander Private Bank, a division of the Spanish banking giant Santander, has initiated cryptocurrency services tailored for Swiss investors. The bank is now offering trading and custody services for Bitcoin and Ethereum.
These services are being made available to high-net-worth investors, with plans to expand the range of cryptocurrencies offered in the near future.
Santander has indicated that additional cryptocurrencies meeting their criteria will be introduced in the coming months.
The service provision at Santander is customer-driven, available upon request through dedicated managers.
The bank emphasizes the security of these assets, ensuring they are stored in a safe environment where private cryptographic keys are securely managed.
John Whelan, Director of Crypto and Digital Assets at Santander, highlighted Switzerland’s role as a leader in providing an advanced regulatory framework for digital assets.
Whelan anticipates that customers will prefer to use established financial institutions for managing their asset liability.
Banco Santander, with a history spanning over 160 years, boasts a customer base of 166 million and serves 210,315 affluent clients. The bank’s assets and deposits are substantial, amounting to around [specific figure not provided] billion dollars.