The Zurich-based private bank is launching its cryptocurrencies and digital assets offering, expanding its existing investment universe to consolidate its position as an innovative bank.
Following a comprehensive review, the Swiss Financial Market Supervisory Authority FINMA has granted Zurich-based Kaleido Private Bank approval for the custody, trading as well as the deposit and delivery of cryptocurrencies. This initial product range forms the cornerstone for future expansions of digital assets.
Don’t be your own bank
While the blockchain fundamentally enables the self-custody of digital assets, many customers feel the need to keep their private keys with their trusted bank. "For our wealthy private clients as well as our intermediaries, the main arguments are security, simple and straightforward handling via the e-banking platform they are familiar with, and access to specialist expertise. This is the reason why they choose to custodize and trade digital assets with us", explains Markus Abbassi, who has been in the newly created position of Head of Digital Assets since February 2022.
A new asset class
While only a few banks in the market have launched a cryptocurrency offering, Kaleido Private Bank recognized the development of the technology early on and set the appropriate course. "For us, it was clear from the beginning that as a modern and innovative boutique bank, we had to build the bridge between traditional and digital assets for our customers", explains Rolf Bauer, CEO of Kaleido.
Huge potential of digital assets
Kaleido offers its clients not only direct exposure to various blue-chip cryptocurrencies, but also access to traditional investment vehicles such as funds investing in future trends such as Web3 technology, the metaverse or NFTs through its network.
About Kaleido Private Bank
Kaleido Private Bank Ltd is a boutique bank based in Zurich Seefeld. Kaleido is reshaping private banking. At the heart of Kaleido is the collective expertise and the exclusive network of experts built over many years. Kaleido is independent and provides personal and holistic advice to ultra-high net worth individuals, entrepreneurs and family offices and intermediaries according to the guiding principle "Beyond Banking". The bank is committed to the consistent use of exponential technologies for the client.
Kaleido has an innovative asset management, which in its state-of-the-art setup is also open to new assets such as cryptocurrencies or tokenized assets and has recognized them as future portfolio components. For its innovative solutions and commitment to its clients, Kaleido, under the leadership of CEO Rolf Bauer and COO Gian Nay, was awarded the CFI Award for Best Boutique Private Bank 2021. For more information, visit the Kaleido Privatbank website and our LinkedIn @Kaleido Privatbank AG.