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Swiss Banks Prolong Bitcoin Industry To Germany And Austria

(Credit: Ethan Miller / Staff) Swiss banks are lending hands for Germany And Austria in the bitcoin industry.Swiss Banks Prolong Bitcoin Industry To Germany And Austria
November 25
3:56 PM 2016

Right after the launch and introduction of its product for Swiss investors, who expect a positive development in the price of Bitcoin to trade transparently on the SIX Swiss Exchange for the first time, Swiss bank Vontobel has extended its certificate on Bitcoin to the countries of Germany and Austria. 

According to Heiko Geiger, its head of public distribution Europe, the tracker certificate offers investors a simple means of investing in the digital currency and the possibility to participate in the development of its price in USD, without having to own Bitcoins themselves.  

The certificate is a simple bankable asset that is particularly suitable for investors who anticipate a rise in the acceptance and significance of Bitcoin as a way of payment and as an alternative currency.

Vontobel, which manages and monitors a client's assets entrusted to it and also observes the financial markets and interprets global macroeconomic developments, is the first Swiss issuer of a tracker certificate on Bitcoins for subscription.

Switzerland has been dubbed a conducive environment for Bitcoin to thrive, due to its regulatory friendly measures for the digital currency.

With the launch of this tracker certificate in Germany, Geiger says the environment could also be considered encouraging for similar investments.

Before the launch in Switzerland, the bank maintained that the impact of the product on the price of Bitcoin "will most likely be very low." Trading commenced earlier this year on July 15, with Bitcoins purchased according to the subscriptions received from clients on that day, and with the products to be redeemed on July 23, 2018.

Depending on the market environment and the client interest, they will possibly issue a new product afterwards.

Vontobel's reputation spreads across 22 international locations where they identify and analyze trends, and subsequently create innovative investment strategies and products for investors.

 

 

© 2016 VCPOST, All rights reserved. Do not reproduce without permission.
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