Basler Kantonalbank, a Switzerland-based bank backed by the country’s government, has announced plans to offer crypto trading and custody services via its subsidiary Bank Cler.
Bank Cler spokeswoman Natalie Waltmann told German language newspaper NZZ am Sonntag that the bank would start offering crypto services sometime in 2021, according to Yahoo Finance. Bank Cler would reportedly be the first cantonal bank in Switzerland to venture into the cryptocurrency space.
Currently banks such as Seba and Sygnum, together with traditional lenders like Falcon and Vontobel, are serving the crypto market. Bank Cler said the crypto move has been taken due to demand from younger clients.