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Bank Users in Switzerland Show Interest in Crypto

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Switzerland Lugano

Bank users in Switzerland seem to be interested in cryptocurrencies. At least, this is what Zeno Staub, the CEO of Vontobel Holding AG, explained in a recent interview. Staub said that clients are interested in crypto while talking with Bloomberg TV anchor Anna Edwards. This shows financial companies should be open to discuss how to implement cryptocurrencies in their services.

Bank Users in Switzerland Interested in Cryptocurrency

As Mr. Staub explained, their clients are interested in virtual currencies. However, he stated that the technology behind cryptocurrencies (blockchain technology) is more important than some applications related to digital assets. Several companies and financial figures have always differentiated blockchain technology from cryptocurrencies. 

The CEO of the Swiss private banking and investment management group Vontobel Holding, said that they believe that blockchain technology is a logical step of the trend of securitisation. This technology can create trust without a central counterparty. 

He has also mentioned that they are expecting to see major changes in the next years in terms of blockchain technology and digital assets. 

On the matter, Staub said:

“We will see major changes coming out of that going forward. What we offer to our clients is that we’ve wrapped some cryptocurrencies in a secure, convenient, easy to handle way, and clients appreciate that and allocate part of their wealth to that.“

Additionally, Vontobel announced the expansion of its Bitcoin product in the country. The company became the first one to offer an open-end exchange-traded Bitcoin tracker certificate. This offered users the possibility to get access and exposure to the virtual currency market without having to be worried about custody. 

Different banks could start offering crypto-related solutions to clients from all over the world. With the expansion of the crypto market, traditional financial firms have been trying to meet the needs of their clients that requested new and different ways to get access to virtual currencies. 

Let’s also not forget that several firms from all over the world have invested in Bitcoin. For example, MicroStrategy and Tesla have purchased Bitcoin throughout the last year. Other companies have followed the same trend and acquired the most valuable virtual currency in the world. 

As Staub explains, there is a lot of interest and a lot of interest for a significant amount of time. Several individuals and wealthy investors that made their fortunes using traditional methods and financial solutions are now asking about Bitcoin and would like to take this risk. 

Jonathan Gibson

Jonathan Gibson

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