The CEO stated that Vontobel’s wealthy customers are interested in cryptocurrencies

Zeno Staub, CEO of Swiss private bank and investment management giant Vontobel, revealed that some of the company’s wealthy customers are at risk of cryptocurrency.

Staub said in an interview with Bloomberg on Tuesday statement Vontobel’s customers are interested in cryptocurrency.

Staub believes that blockchain technology will have a profound impact on global finance. As part of the interview, the Vontobel CEO described the new technology as “the logical result of the megatrend securitization because it is the only available technology that can build trust without a central counterparty.”

Commenting on the bank’s encryption products for wealthy customers, Staub stated:

“What we offer our customers is that we have packaged some cryptocurrencies in a safe, convenient, and easy-to-handle way. Customers appreciate this and distribute part of their wealth to these.”

In its half-year financial report Publish On Tuesday, the bank also reported that its Bitcoin (Bitcoin) Tracking certificate investment products. According to the report, the bank’s assets under management increased by 11% in the first half of 2021, reaching a record high of 274.5 billion Swiss francs (about 300 billion US dollars).

In fact, as previously reported by Cointelegraph, Vontobel is one of the Swiss banks supporting cryptocurrencies.As early as 2016 and 2017, the bank was already creating Bitcoin-based investment products.

In January 2019, Vontobel returned Created a regulated crypto custody product For banks and asset management companies.

related: Senior executives say that many JPMorgan Chase clients view Bitcoin as an asset class

Staub’s comments reinforce other wealth management companies’ previous concerns about Growing interest in cryptocurrencies Among their big customers.

This is the extent of this growing interest, namely investment Banks become more motivated Provide crypto investment products to their wealthy customers.

In early July, JPMorgan Chase announced its plan Provide access to Grayscale Bitcoin Trust Retail wealth customers.