BBVA in Switzerland launches its cryptoasset offering to the market
Javier Rubio Client Solutions Director
It is a pleasure to communicate with all our clients and stakeholders in order to announce the market launch of the new cryptoasset offering. This innovative offering will complement our investment offering available in traditional financial assets for Private Banking clients.
Starting next Monday, June 21, 2021, all BBVA clients in Switzerland who wish to do so, will be able to invest in bitcoin, through a digital wallet integrated into their investment portfolio. On the same day, clients will be able to convert their Swiss francs, Euros and Dollars into bitcoins, and vice versa.
The cryptoasset offering is based on three main pillars:
- Integration into our systems and platforms. We have assigned the same treatment to cryptoassets as to other traditional financial assets, from the same place you can invest directly in both types of assets. In the same portfolio you can have different currencies, cryptoassets (such as bitcoin) and traditional financial assets (such as stocks, bonds, funds and ETFs, among many others). All this represents a great advantage in terms of simplicity when it comes to investing, tracking a portfolio, reviewing account statements and obtaining tax forms, among many other advantages.
- Safe custody at BBVA. Cryptocurrencies are deposited in a wallet under the custody of BBVA, with the highest security standards available in the market. This allows us to significantly reduce the risks, especially when compared with the private custody or third parties custodians that do not have the same experience that a bank like BBVA can provide in the safe custody of valuable assets in a secure manner. For this purpose, we have several types of wallets and different security policies.
- Access to multiple sources of liquidity. Cryptoassets may present moments of illiquidity due to significant fluctuations in their price or due to the depth of the market itself. For this reason, BBVA in Switzerland offers the possibility of investing 24 hours a day throughout the week, with all types of market orders and limited orders through various counterparties, which ensures that we can process large individual orders and multiple orders at the same time without affecting the execution prices.
With this innovative offer, from BBVA, we want to position ourselves as a reference entity in the adoption of blockchain technology and offer the opportunity to our clients to invest in this type of digital assets that have a great future. Over the coming months, we will continue to improve and expand our cryptocurrencies offering.
If you are not yet a client and you want to invest, with the highest security guarantees in the market, you can contact us at the following telephone number +41 (0) 44 265 95 11, or fill in the form after the following link: www.bbva.ch to request the opening of a Private Banking account.
