Swiss Private Bank Says Its Wealthy Clients Are Interested in Crypto

Zeno Staub, the CEO of Swiss private banking and investment management group Vontobel Holding AG, talked about their clients’ interest in crypto.

The Vontobel CEO had an interview with Bloomberg TV anchor Anna Edwards.

“Clients have an interest in digital assets. Clients have an interest in cryptocurrencies. We believe that the underlying technology is actually more important than a certain types of application.

“We believe down the line blockchain technology is the logic consequence of the general trend of securitisation because it’s the only available technology that can create a trust without the central counterparty.

“We will see major changes coming out of that going forward. What we offer to our clients is that we’ve wrapped some cryptocurrencies in a secure, convenient, easy to handle way, and clients appreciate that and allocate part of their wealth to that.“

On 27 October 2017, Vontobel announced that it was expanding its Bitcoin product range by making available on the stock exchange (from 30 October 2017) “the first open-end exchange-traded bitcoin tracker certificate” and that this would provide “an interesting option for all those who believe in the cryptocurrency but don’t want to have to deal with IT administration.”

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