Arab Bank (Switzerland) has revealed its plans to launch suite of diverse cryptocurrency services in Arab world featuring Bitcoin brokerage and custody. Middle East is warming up to the crypto revolution and this is major news in the current scenario.
Canton-of-Zug (Switzerland) based bank announced that it has responded to the growing call from local customers to tap into the Arabian crypto market. Younger clients are looking to invest in cryptocurrencies and digital assets in their bid to diversify their portfolio. Its clients are renowned high net worth individuals from prominent industrial families, entrepreneurs, and regional leaders.
The Middle East represents a rather untapped region when it comes to cryptocurrency investments.
Huge market for cryptocurrency services in Arab world
Arab Bank’s chief executive officer, Serge Robin adds that the bank firmly believes that cryptocurrencies will significantly disrupt the conventional finance industry. Blockchain has the potential to provide a potent alternative to the traditional money market. The bank has clear intentions to provide digital assets to its clients in the region helping them create a secure portfolio in a regulated environment.
Arab Bank has joined hands with Taurus Group to provide its latest crypto services. It is worthwhile to note that Taurus Group is based in Switzerland too. They will come together to create a synchronized platform that focuses on digital assets. Taurus has also helped formulate the procedures and operational plans for these latest crypto services.
Lamine Brahimi of Taurus Group proudly says that Arab Bank is an innovative player that is looking to enter the crypto realm and they are glad to support its efforts. It is a necessary evolutionary step in the financial operations of the coveted bank. Management of digital financial blockchain infrastructure and cryptocurrency services in Arab world will further boost the profit returns.
Recently, many Switzerland banks have entered the crypto arena by launching crypto assets. Notable names include Falcon Group and UBS. These renowned banking giants have also realized the importance of blockchain in the future of finance.