Cryptocurrencies Can Become a Mainstream Asset Class, but Hurdles Remain
Harumi Urata-Thompson, founder and CEO of HUT Consulting, talks about some of the hurdles that cryptocurrencies will need to overcome.
27 July 2022
Saffery Champness (Suisse) SA has signed up to global virtual currency platform Coinify to provide clients the option to complete fee payments using cryptocurrency.
The Coinify platform will enable Saffery Champness (Suisse) SA clients to make payment for services using over twenty-five of the most popular cryptocurrencies, including Bitcoin, Ethereum, and Bitcoin cash.
The adoption of the Coinify platform forms part of the firm’s wider commitment to client service, ensuring the business continually evolves to meet the changing needs and expectations of their clients, including those with significant holdings and income from digital assets for whom frictionless interaction between the digital and ‘fiat’ worlds is vital.
Coinify’s focus on instant delivery and regulatory compliance will make the payment process efficient and seamless for those clients who choose to pay using cryptocurrency, as well as giving clients peace of mind through dealing with a properly regulated entity.
Siobhan Moret, Marketing Director at Saffery Champness Suisse (S.A), said:
“Our crypto-native client base is growing and establishing robust digital infrastructure to meet the evolving needs of these clients is a key priority for us. The use of Coinify will streamline the payment process for those clients who wish to transact with us using cryptocurrency, through a transparent and regulatory-compliant platform. Establishing partnerships with reputable legal and financial crypto-focused service providers like Coinify forms part of our broader strategy of offering fiduciary services to crypto-native entrepreneurs, and high net worth individuals and families.
Over recent years we have worked to develop a seamless trust offering for clients with significant digital asset investments. As the DeFi revolution continues we are seeing increasing interest in the very real benefits of holding such investments in appropriate fiduciary structures – from providing certainty over the tax treatment of assets and effective estate planning, to simply giving time back to investors to focus on their personal pursuits by taking on the burden of regulatory compliance and financial reporting. A key concern for many digital asset investors is the difficulty in bridging the TradFi and DeFi worlds. With our networks we help build that bridge, which has been further strengthened with the extension of this new crypto payment functionality to our clients.”
Saffery Champness in Switzerland has been at the forefront of developing new fiduciary structures for digital asset investors and building industry understanding of these new asset classes, including through its sponsorship of STEP’s Digital Assets Special Interest Group. The firm was recently shortlisted in the STEP private client awards for Digital Assets Practice of the Year.