According to its latest announcement, one of Switzerland’s oldest financial institutions, Bordier & Cie, has joined the crypto bandwagon. 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 cryptocurrencies. The partnership between financial institutions will allow Bordier’s customers to acquire cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, and Tezos.
The bank’s decision was backed by increasing demand from customers.
The Swiss bank said that its decision was backed by increasing demand from customers to gain exposure to the volatile assets to diversify their investment portfolio better. Bordier & Cie 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 the Swiss bank’s SCmA, said they had received requests from their clients concerning the high-performing assets.
Crypto acceptance from institutions continues to increase.
Though the Swiss government has not been entirely pre-disposed towards private ownership of cryptocurrencies, many Swiss companies are looking at the best way to make an entrance into the flourishing trade without tripping mines. Not just in Swiss but companies all around the world are also warming up to cryptocurrencies. As reported earlier, Elon Musk-led Tesla also purchased $1.5 billion worth of bitcoin and also announced its plans to start accepting the cryptocurrency as a payment method. Payment giants like Mastercard and Visa have also expressed their interest in exploring cryptocurrency options for their customers worldwide.