Basler Kantonalbank will begin offering bitcoin investments through a subsidiary next year. It is the first state-backed lender to tiptoe into cryptocurrency territory.
«We will launch an offering for trading and custody of digital assets,» Bank Cler spokeswoman Natalie Waltmann told«NZZ am Sonntag» (behind paywall, in German). Cler is a domestic lender owned by Basler Kantonalbank, or BKB.
The local government-backed lender is the first cantonal bank in Switzerland to dip its toes in the burgeoning cryptocurrency scene, which until now is dominated by crypto banks Seba and Sygnum, while traditional lenders like Falcon and Maerki Baumann have also been more receptive than major banks UBS and Credit Suisse. Cler, formerly known as Bank Coop, possesses its own banking license separate from BKB.
The parent company may soon also offer cryptocurrency services, the Swiss outlet reported. «Bank Cler is the digital competence center of our company, to which parent BKB also belongs. Cryptocurrencies are also an issue for us,» Waltmann was quoted.
Hiring Crypto Expert
Cler said it is hiring crypto expert Alain Kunz (pictured above) as its head of digital assets, effective immediately. The bank said the crypto push is a response to demand among its younger clientele, who wish to investment in digital asset classes.
