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Vontobel Bank CEO States That Customers Are Interested in Crypto

Tue, 07/27/2021 - 12:20
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Alihuseyn Gulu-Zada
Vontobel bank CEO Zeno Staub shared some interesting statements about customers' crypto deposits
Vontobel Bank CEO States That Customers Are Interested in Crypto
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Vontobel bank CEO Zeno Staub was interviewed by Bloomberg TV, where he made some interesting statements about clients' digital assets.

On customer attitudes toward digital assets

In particular, when asked about the appetite of the bank's investor base for crypto assets, Staub said that customers are very interested in digital assets and cryptocurrencies.

Staub noted that Vontobel's customer base has a huge interest in cryptocurrencies, as well as in blockchain technology.

The expert also assured viewers that customers interested in cryptocurrencies consider this underlying crypto-asset technology to be more important than certain types of applications.

Goldman Sachs Survey Shows 45 Percent of Family Offices Want to Invest in Cryptocurrencies

About blockchain technology

According to Zeno Staub, the underlying blockchain technology is a logical consequence of the general securitization trend.

He explained his vision by saying that this technology is the only one available that can create trust without a central counterparty.

Future development of the sector

The Vontobel bank CEO noted that, in the future, we will see significant changes related to these processes:

"What we offer to our clients is that we've read some cryptocurrencies in a secure, convenient, easy to handle way," – noted Staub.

He expressed confidence that Vontobel's clients like this approach and are allocating some of their wealth into cryptocurrencies.

Vontobel Q1 2021 Chart

Vontobel's success in the first quarter of 2021

Note that Swiss bank Vontobel issued a report on very successful results for the first quarter of 2021. In addition to numerous factors, positive development can be especially attributed to the Digital Investing division.

This division benefited from the high demand for structured products in the first half of the year—particularly from Bitcoin and other cryptocurrencies, winning new customers in Switzerland, Germany and Hong Kong.

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About the author

Alihuseyn graduated from Yale University with a focus on linguistics and philosophy. He has worked as a journalist-analyst for Trend News Agency. At the same time, he is an academically trained singer (baritone) and a composer. Alihuseyn has been involved in cryptocurrency and blockchain since 2017 and is an enthusiast in this field, considering blockchain technology revolutionary and capable of changing society. In this area, he has written several theoretical and analytical pieces.