Santander Private Banking International, a unit belonging to Banco Santander SA, will be offering the exchange of major cryptocurrencies, bitcoin and ethereum, to Swiss clients, CoinDesk reported on Monday citing an internal announcement it obtained.
In the announcement, it was mentioned that Santander will be introducing more cryptocurrencies that are in line with the bank's screening norms in the upcoming months. However, these services will only be available to clients once they have sent a request through relationship managers.
"The Swiss regulation related to digital assets is one of the first and most advanced in the world, since it provides clarity and a comprehensive regulatory environment for our clients. As holding of crypto as an alternative asset class continues to expand, we expect that our clients prefer to rely on their existing financial institutions to be responsible for their assets," John Whelan, head of crypto and digital assets at Santander, shared in an email to CoinBase.
