First Liechtenstein bankb to directly sell cryptocurrencies
The crypto boom is spreading to the mainland. For the first time, a bank offers direct investments in digital currencies – and promises protection against hackers.
Bank Frick has made it possible to trade five crypto currencies with immediate effect, as the Liechtenstein-based bank announced on Wednesday.
Professional investors and financial intermediaries can invest in the digital currencies Bitcoin, Bitcoin Cash, Ether, Ripple and Litecoin once a day via the Frick platform. Cornerbank, Falcon, IG Bank, Leonteq, Swissquote and Vontobel already offer similar services in Switzerland.
Physically separated
To protect against hackers and thieves, Frick stores the crypto currencies in so-called cold storage wallets. These are physically separated from the Internet and cannot be hacked from outside, promises the bank.
With its offer, the institute has the ambition to bring cryptobanking at least to the same level of quality as traditional banking.