Hypothekarbank Lenzburg’s Crypto & Blockchain Business Banking Accounts Now Available


Hypothekarbank Lenzburg's Crypto & Blockchain Business Banking Accounts Now Available

Effective June 6, 2018 the Hyporthekarbank Lenzburg became the first bank in Switzerland to open up business accounts to crypto and blockchain companies. And, it would appear they didn’t do this on an impulsive decision either.

The bank informed the Swiss financial Market Supervisory Authority of the decision and explained that they have evaluated the risks along with compliance and found no reason not to move ahead.

Hyporthekarbank Lenzburg is known for being particular with the customers they accept in fact, only two crypto space companies have been accepted thus far. To say that their process is extensive is an understatement.

Although the Falcon Private Bank provided asset management services to the crypto companies since last year, they were not open for company or blockchain accounts. As a result, Hyporthekarbank Lenzburg takes the place of the first in the country to do so.

Crypto In The New World

There has been a surge in the crypto world, banking policies forced companies to seek refuse abroad to facilitate their banking needs – this was a great move by the Swiss bank. In fact, deemed as a major financial hub in Europe this will be a pivotal component to their own positioning in the industry too.

And so, despite the existing restrictions from the government on blockchain legislation and regulating the model in and of itself, the Swiss bank as mentioned above, evaluated the risks and found that there were no issues that would hurt their reputation.

They have since introduced crypto investment and storage (cold) for Bitcoin, Bitcoin Cash, Litecoin, Ripple and Ethereum.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide