Santander (BME:SAN) Private Banking International has launched trading services for Bitcoin and Ether, targeting high-net-worth individuals with accounts in Switzerland. The bank's new crypto offerings, revealed today by an internal document leak, are managed by relationship managers and come with a secure custody solution for private key management.

Santander's move comes at a time of volatility in the cryptocurrency market, with Bitcoin and Ethereum prices climbing to $37,273.87 and $2,031.11, respectively. This rise is attributed to the SEC's growing interest in Spot Bitcoin ETFs and the buzz around BlackRock's proposed Spot Ethereum ETF.
In addition to its operations in Switzerland, Santander has strengthened its position in the digital asset space by registering as a crypto custodian with the French regulatory body. This strategic step aligns with the bank's commitment to adopting modern technologies while ensuring compliance with regulatory standards.
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Meanwhile, in Germany, Commerzbank has obtained a crypto custody license, allowing it to protect digital assets and explore new services that are in line with technological advancements.
Jörg Oliveri del Castillo-Schulz, COO of Commerzbank, stressed the importance of integrating the latest technologies into the regulatory framework. Santander's initiative will benefit from Switzerland's robust regulatory environment, which is overseen by FINMA.
The expansion of traditional financial institutions into digital asset trading shows that cryptocurrencies are gaining more and more acceptance as part of mainstream financial services. #ContentStar# #BountyCreator#