Falcon Private Bank Embraces Crypto

by Forbes Middle East Forbes Middle East - Business News

Switzerland-based Falcon Private Bank, which is owned by Abu Dhabis investment arm Mubadala, has announced it will now accept wealth originating from crypto assets.

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Through a process in line with relevant compliance provisions, Falcons clients can now place their wealth originating from crypto assets (and converted into fiat currency) with the bank, according to a press release.
The wealth manager says it applies required due diligence to analyze transaction histories on the blockchain to ensure full compliance with anti-money laundering and know-your-customer laws and regulations. It reports its auditor PricewaterhouseCoopers has reviewed the process.