STORE CRYPTO CURRENCies
Clients can hold the crypto currencies that they have purchased, transferred from blockchain or received from other clients of the Bank on their Multi-currency accounts.
The Bank currently offers its clients six of the most popular crypto currencies - Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Stellar (XLM), Bitcoin Cash (BCH), Tether (USDT) and Dukascoin (DUK+).
All crypto currencies (except for the Dukascoin) held by clients in the custody of the Bank are held in the form of specific CFDs, this approach is similar to holding crypto currency itself from a risk perspective and financial aspects but also benefits from the deposit protection scheme wich is more attractive for clients. These CFDs have a very low risk profile because there is no leverage, short sales are not allowed, margin calls and losses exceeding initially invested amounts are not possible. The value of investments in crypto currency CFDs over Multi-currency accounts is protected up to a maximum of CHF 100,000 per client under Swiss legislation
Dukascoins (DUK+) held by clients in the custody of the Bank are held as a deposit in crypto currency and are therefore not protected under Swiss legislation
Private banking clients having a Savings account avail the facility to store popular cryptocurrencies BTC, ETH, USDC, LTC, AAVE and others using the fiduciary investments services offered by the Bank. The investment process implies signing the fiduciary services agreement and selecting the high-quality custody service provider suggested either by the client or by the Bank.
The Bank holds its own and clients’ crypto currencies on a combination of cold and hot wallets with multi-signature access in respective blockchains and on its accounts with selected partners such as regulated crypto exchanges and other banks.
The Bank charges competitive fees for clients’ crypto currency storage.