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Arab Bank’s Swiss Branch to Launch a Suite of Cryptocurrency Services

Sep 19, 2019
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byOmar Abbas

Arab Bank Switzerland – one of the top financial institutions with its headquarters in the Middle East – is launching a range of cryptocurrency services including brokerage and custody of Bitcoin (BTC) and Ether (ETH). According to CoinDesk, the Swiss banking arm said the launch is a result of the demand from “existing and younger clients who seek to include digital assets as one asset class in their diversified portfolios.”

Serge Robin, CEO of Arab Bank Switzerland, said the in the company’s press release: “We firmly believe that blockchain will disrupt the financial industry as we know it and we intend to be amongst the first banks to offer digital asset services to our clients in a secure and regulated environment.”

The Bank will utilize the custody platform and expertise of Taurus Group, a Switzerland-based fintech group focused on digital assets. Taurus also assisted Arab Bank Switzerland with developing its operational procedures and policies in order to offer digital asset services to its clientele.

“We intend to support all major innovative players like Arab Bank (Switzerland) to create or adapt their infrastructure for crypto assets. It is a necessary step to ensure that the next generation of financial market infrastructure is based on blockchain,” said Lamine Brahimi, Managing Partner of Taurus Group.

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