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Online banking offers the opportunity to invest in the famous crypto-currency. A first in Europe. But also a preliminary to the launch of services linked to other virtual currencies

The most famous of the virtual currencies, the bitcoin, makes its entry with the leader of the Swiss online bank, Swissquote. "We are talking more and more and this is becoming commonplace. The new generation would like to have access to this asset, "summarizes Paolo Buzzi, co-founder of Swissquote. The latter announced this Friday the strengthening of the process of digitization of its brand.

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Another aspect of this transition is the management of blockchains. "There's a lot of potential in this underlying technology. In the near future, this will dramatically change the way banks interact. The bitcoin is an elegant way for us to start this process, "Paolo Buzzi said.

A transition in phases

Commercializing bitcoins is only a first step for Swissquote. "If the experiment is conclusive, we will authorize the deposit of this currency directly with us, and then allow payments," says the one that plans to open, by this fall, other crypto-currencies like Ethereum

Is not the bitcoin an asset considered risky? "Its valorization is very" rock'n'roll ". Its liquidity is low, but it remains interesting, as it is not subject to the policies of central banks, "Buzzi said.

To reassure future investors, Swissquote intends to guarantee deposits. "If the owner misplaces his password, his computer or his phone, today he loses his bitcoins. On the other hand, through our service, even if the custodian company has been hacked, nothing will be lost! He will always have access to his investments in euros or dollars equivalent, "said the co-founder of the bank. The value of the virtual currency is not guaranteed.

Traceability issues

How can we guarantee that this new service will not be used to launder money? During the first phase, the Swissquote customer will not be able to transfer his bitcoins to a third party. In addition, their value will be reflected in the tax statements that the bank will provide to its customers at the end of the year.

"There is still work to be done, but there are solutions. I hope this is something that will be put in place soon if this need is emitted by our customers, "concludes Paolo Buzzi.

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