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Swiss private bank Bordier & Cie SCmA , founded in 1844 is now offering its customers the possibility to trade in Bitcoin and other cryptocurrencies.
No advice, but trade
Bordier has partnered with Sygnum Bank, by integrating Sygnum’s B2B Banking solution to its own internal infrastructure. With the integration, Bordier’s clients can trade cryptocurrency on an execution-only basis. Sygnum does not advise Bordier’s clients on digital assets, but merely provides them with a platform to trade and store their cryptocurrency.
Current cryptocurrencies offered are Bitcoin, Ethereum, Bitcoin Cash and Tezos.
Call for diversification
According to Evrard Bordier, managing partner at Bordier, the bank is seeing increasing demand from its customers to invest in cryptocurrency and to diversify their portfolios:
“We have seen increasing demand from our clients to diversify into alternative asset classes such as digital assets. By partnering with Sygnum Bank, we are providing our clients* with a one-stop, integrated solution while empowering them to invest in this new, high growth asset class with complete trust.”
Mathias Imbach, Chief Executive Officer of Sygnum Bank Group confirmed the partnership:
“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,”
Best performing asset of 2020
Cryptocurrencies have seen significant growth over the past year, with total market capitalization nearly quadrupling to over $ 1.4 trillion, making it the best-performing asset class in 2020 and hence a powerful tool for portfolio diversification and development, to achieve risk-adjusted returns. Bitcoin in particular, is considered as the new digital gold because of its ability to hedge against inflationary pressures, and therefore more and more institutions turn to it as an alternative investment.
Switzerland has recently seen several government and private banks enter the crypto space in. These include Maerki Baumann & Co., InCore Bank, Basler Kantonalbank, Julius Baer and others.