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Bordier & Cie, a 177-year-old bank based in Switzerland, has recently partnered with Sygnum Bank to allow cryptocurrency trading within the service provided by the bank. With expectations to expand, the Swiss bank founded in 1884 has added BTC and other digital assets to the list of services it provides.
Bordier & Cie to Allow Crypto Trading for Clients with Sygnum Bank
In a recent announcement, the Swiss bank Bordier & Cie partnered with one of the first crypto banks of Switzerland, Sygnum Bank to provide infrastructure management for crypto trading.
Further, the bank mentioned in the announcement that a rise in demand from their clients motivated them to add cryptocurrencies like BTC, ETH, and other digital assets to their services.
The recent partnership includes the custody of the private keys for controlling the access of cryptocurrencies and building a connection with the liquidity providers.
Moreover, Bordier & Cie management strongly believes that they need to diversify into alternative asset classes such as cryptocurrencies and digital assets.
After the addition of new services, the clients will now be able to buy, hold, and trade cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, and Tezos. However, the offerings are subject to grow in the near future.
The Advancement in Crypto Market Capitalization
The CEO of Sygnum Bank Group, Mathias Imbach, commented on the recent implications by the Swiss bank, that read:
“Bordier continues its 177-year tradition of safeguarding clients’ wealth for future generations by offering the ‘next generation’ of assets to its clients. Bordier’s timeless values and Sygnum Bank’s vision for Future Finance is a powerful combination in the changing financial landscape.”
In response to Imbach’s comment, Bordier & Cie embraced the market capitalization of the crypto industry and added:
“In a portfolio context, cryptocurrencies’ high-growth and low-correlation to traditional assets makes them a powerful tool to enhance diversification and achieve superior risk-adjusted returns.”
The bank representative continued:
“Bitcoin, in particular, which many see as the new “digital gold” due to its ability to hedge against inflationary pressure, has seen strong institutional adoption as an alternative investment.”