One of the largest Swiss private banks Arab Bank Switzerland has announced the launch of cryptocurrency coin custody service.
According to the official press release, alongside the launch of the service Arab Bank Switzerland has become one of the first private banks in Europe to offer digital asset services to its high net worth clients.
The service should reportedly solve the growing demand from existing and younger clients "who seek to include digital assets as one asset class in their diversified portfolios."
Serge Robin, the Head of Arab Bank (Switzerland), says the bank firmly believes that "blockchain will disrupt the financial industry."
"We firmly believe that blockchain will disrupt thefinancial industry as we know it and we intend to be amongst the first banks to offer digital asset services toour clients in a secure and regulated environment," Robin said.
Last year, the Swiss Minister of Finance, Ueli Maurer rejected a special law for the blockchain industry.
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