Santander Sets Sights on Exclusive Crypto Trading for Swiss Elite
Banco Santander is gearing up to offer exclusive Bitcoin and Ethereum trading options tailored for affluent Swiss account holders.
These services, accessible through Relationship Managers, secure assets in a regulated custody model, enhancing customer security.
Though the bank hasn’t officially confirmed, internal sources indicate these forthcoming services. Santander’s move aligns with Switzerland’s strict financial regulations overseen by FINMA, potentially offering smoother operations compared to global markets.
Santander’s proactive entry into Switzerland follows its registration as a crypto custodian under French regulations and certification as a digital asset service provider by the AMF.
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Factors driving this surge include pending SEC approval for a Spot Bitcoin ETF and BlackRock’s filing for a Spot Ethereum ETF, sparking an 8% ETH price increase.
Should these ETFs gain approval, significant price shifts for Bitcoin and Ethereum are anticipated.