Lisbon, Portgul-based Bison Bank says it has seen revenues increase by 240% in 2023 when compared to the year prior.
Bison Bank is focused on providing a range of Wealth Management, Custody, and Investment Banking services to individual and institutional clients. Affiliated firm, Bison Digital Assets is the first Virtual Asset Service Provider licensed by the Bank of Portugal, fully owned by a Portuguese bank.
Bison Digital Assets aims to bridge cryptocurrency and traditional finance through a regulated environment. Bison Bank owns Bison Digital Assets and offers custody and exchange of digital assets.
Bison Digital Assets shares that it has started a relationship with more than 50 clients and has realized a total value of more than €35 million. The company is partnering with well known firms like BitStamp and Circle and plans an integration of Fireblocks as a blockchain partner.
Bison Bank reports that depositary and custodian services continued their growth trajectory, with assets under management increasing from around €500 million to €2 billion by the end of 2023.
As a custodian, Bison Bank states that it currently works with around 90 funds from 30 management companies, including private equity funds, collective investment companies, property investment funds, alternative funds, and securities funds.
Bison Bank’s Wealth Management services have signed up over 1,000 new clients during 2023 – reaching more than 3,000 clients by the end of the year.
Bison Bank’s clients are said to be Portuguese and foreign high-net-worth individuals.
International private clients come from more than 100 countries and are looking to invest in venture capital and private equity funds, says the bank.
António Henriques, Chairman of Bison Bank’s Executive Committee, said the bank is confident it will sustain its growth.
