Crypto-Banking Business Is On The Rise: A Mainstream Bank In Liechtenstein Allows For Bitcoin Investments
A well-known financial institute from Liechtenstein said the first series of cryptocurrencies will be available for trading, which will include particularly Bitcoin, Litecoin, Ripple, Ether and Bitcoin Cash.
A family bank in Liechtenstein called Frick Bank is considered to be one of the first banks to make it possible for its institutional and high-value private clients, to directly invest in digital currencies and make profits from the business.
The bank’s announcement has it that the related crypto assets will be stored in the so-dubbed cold wallets, which is essentially a security measure that keeps digital keys to the cryptocurrency investments offline to prevent potential hacking.
The Bitcoin, Litecoin, Ripple and Ether trading through the bank’s platform will be in full compliance with basic procedures stated in Liechtenstein and European law.
The chief client officer at the bank said, that the services they support are requested all across Europe. He mentioned, that they have a purpose to place crypto-banking on at least the same level of quality as traditional banking.
Earlier, there was a report, that a Swiss private bank Falcon Group, had also put a bitcoin purchasing service on offer in partnership with the bitcoin brokerage firm Bitcoin Suisse AG.