While most traditional financial institutions are still skeptical about cryptocurrency, a few of them are already embracing it. One such institution is Bordier & Cie, a leading bank in Switzerland, which has announced its partnership with digital asset bank, Sygnum. This new partnership will allow the traditional bank’s client to buy crypto assets and “lay the foundation for a broader offering of regulated digital asset products and services.”
According to the announcement, Bordier’s customers would be able to leverage Syngum’s platform to purchase digital assets like Bitcoin, Ethereum, Bitcoin Cash and Tezos.
Evrad Bordier, who is the managing partner of the bank said the partnership between the two institutions will empower their clients to invest in digital currencies with a new level of trust and confidence. In his words, “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.”
Like almost every other traditional financial institution that has adopted cryptocurrencies recently, Bordier claims the move was motivated by their client’s increasing demand for a diversified investment portfolio. The bank also went on to mention the difference between the burgeoning crypto industry and the traditional financial market. According to the institution, digital assets are “powerful tools to enhance diversification and achieve superior risk-adjusted returns.”
The crypto industry has witnessed an increased level of adoption from traditional financial institutions who are now looking to provide crypto services to their clients base. This is in line with the growing digitization of the world and the growth of public awareness about how cryptocurrencies can better serve the world’s economy.
Interestingly, crypto assets have lapped up this new level of attention as we have seen the value of the two largest crypto assets break new thresholds. Bitcoin was able to break the $50k mark and Ethereum also rose above $2000 during this month alone.