Santander Bank Boosts Financial Services With Crypto Trading

• Private banking institution Santander dives into the crypto industry with a new service.
• The service will be available exclusively to select account holders.
• Santander Bank is set to broaden investor access to crypto by screening additional assets.

As the interest in cryptocurrency assets surges, investors worldwide are increasingly drawn to the industry and the potential of the asset class. Not wanting to miss out on the growing momentum, traditional financial institutions are becoming active participants in the space.

Against this backdrop, prominent financial institution Santander Bank is joining the ranks of crypto trading service providers.

Santander Unveils Bitcoin and Ethereum Trading For Investors

On Monday, November 20, the banking arm of Spanish service provider Banco Santander and international private financial institution, Santander Bank, inaugurated the provision of trading services for cryptocurrency assets.

The introduction of the service will initially encompass Bitcoin (BTC) and Ethereum (ETH) for select account holders in Switzerland, with access being granted exclusively upon request through relationship managers. The bank will employ a regulated custody storage model to safeguard the assets, along with private cryptographic keys in a secure environment.

Santander emphasized its commitment to providing clients with a reliable platform for their assets, amid the increased interest in holding cryptocurrencies as an alternative investment. They highlighted that Switzerland’s industry regulation is among the world’s earliest and most advanced, providing clarity and a comprehensive regulatory environment suitable for investors.

The bank is reportedly planning to expand investor access to a wider range of crypto assets as it advances through its screening and selection process.

At the time of this report, Santander has not responded to DailyCoin’s request for comment.

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