Swiss Mainstream Financial Companies Adopt Bitcoin as Demand Surges

Swiss Mainstream Financial Companies Adopt Bitcoin as Demand Surges

​Earlier this month, Swissquote became the first private bank in Switzerland to be approved by the Swiss financial regulator to offer bitcoin services in collaboration with Luxembourg-based trading platform Bitstamp.

Almost immediately after Swissquote announced its integration of bitcoin, Zurich-based wealth manager and financial service provider Falcon adopted bitcoin, allowing its large clientbase to invest in bitcoin. Together, Swissquote and Falcon are set to provide bitcoin services to more than 400,000 clients based in Switzerland.

The integration of bitcoin by Swissquote led to extensive coverage of Bitstamp and the entire Swiss bitcoin ecosystem by the country’s mainstream media. However, the vast majority of bitcoin enthusiasts, traders, investors and users have struggled to acknowledge the importance of the partnership between Swissquote and Bitstamp.

Through the joint platform of Swissquote and Bitstamp, Swiss bank account holders can simply purchase and sell bitcoin through their banks without having to access third party service providers and trading platforms. For Swissquote bank account holders, it is as easy as calling the bank and placing an order for bitcoin.

Swissquote clients are allowed to invest between $5 to $100,000 per transaction given that every trade is unleveraged and settled with independent funds.

Falcon, another major financial service provider, partnered with Bitcoin Suisse to establish an infrastructure which its investors and clients can use to invest in bitcoin.

Bitcoin Suisse CEO Niklas Nikolajsen along with analysts from mainstream media networks such as CNBC described the deal between Bitcoin Suisse and Falcon as a historic partnership and milestone for the Swiss bitcoin ecosystem.

More importantly, Bitcoin Association Switzerland President Lucas Betschart noted that the demand toward bitcoin has been on a consistent rise in the Swiss market and expects to see the value of bitcoin to continue increasing despite recent volatility.