Liechtenstein Bank Allows Its Clients to Invest In Bitcoin

Liechtenstein Bank Allows Its Clients to Invest In Bitcoin

Another crypto-friendly bank spotted! While most of the financial institutions over the world are trying to bar themselves from the cryptocurrency market, Liechtenstein decided to do the opposite, by permitting its customers to pile into bitcoin and its brethren directly.

Legal Bitcoin Investment

Bank Frick, a family bank, headquartered in Liechtenstein, happened to be among the first financial establishments which allow their clients to invest in cryptos. The bank announced its decision earlier this week, on February 28.

Which Currencies Will be Available?

Notably, Bank Frick added that the first series of cyber coins, available for trading, will comprise BTC, BCH, LTC, XRP as well as ETH.

Who Is The Target?

This idea, according to the bank’s announcement, is aimed primarily at:

  • Institutional investors
  • High-value private customers

It is noteworthy that only the clients who are capable of purchasing cryptos with euros, dollars as well as Swiss francs will be allowed to pile into cyber money.

Will Cryptos Be Secured in Bank Frick?

The Liechtenstein-based bank also mentioned that all the digital assets would be stored in cold wallets. On the contrary to the hot wallet, which provides the storage of coins online, the cold wallet is estimated to be the most secure type of off-line storage of cryptos. It provides the maintenance of private keys away from feasible cyber-attacks.

On top of that, trading of cryptos via Bank Frick’s platform will be conducted according to know-your-customer procedures. These procedures are a part of requirements, imposed by Liechtenstein and European (EU/EEA) law.

It means that everybody who would like to pile into bitcoin and its ilks with the help of Bank Frick will have to reveal their identity and go through a verification process. Verification and identification of bank’s clients mean that the financial establishment will track the origin of their funds that are going to be used for crypto investment.

What is a Security Token?
Security tokens became very popular, but do you really know what is STO?STO is Security Token Offering, which is identical to an ICO. In this, there...
1 in 7 Chinese Piled in Cryptos, Only 2% Not Familiar With BTC
Chinese are not only aware what cryptos are but they also gladly pile funds into them. The survey results are showing that 1 in 7 Chinese citizens...
WSJ: Bitcoin Trading at Strong Correlation With Traditional Assets
Within the past days, the ratio between Bitcoin and conventional assets markets has been high, writes the Wall Street Journal.What Are The...
Bitcoin’s «Dead» in a Long-Run, Says Young BTC-Millionaire
On December 17, on a day when a year ago bitcoin hit the all-time $19,000 record, the «big daddy» MarketWatch journalist, teen crypto-celeb Erik...
SEC Charges DJ Khaled and Mayweather for Misleading ICO Investors
The American SEC charges two celebrities for pumping up ICOs without letting investors know they were paid off for promotion. These celebs are a...
Crypto Venture Capitalist: BTC Investors Need to Endure As Amazon’s Did
Cyber money venture capitalist, CryptoOracle partner Lou Kerner suggested viewing bitcoin as a survivor like Amazon after 1995-2000 dot-com bubble...
Morgan Stanley Report Implies Bitcoin’s New Institutional Asset Class
A novel report from Morgan Stanley, the American multinational investment bank, states that bitcoin attracts more and more institutional investors...
Venezuelan Petro Available For Public Sale
After months of delay, Venezuela’s dubious cyber-coin Petro has entered the public market. On October 29, the state’s Economy Department informed...
Financial Services Giant Fidelity Launches Crypto Trading Platform
Fidelity Investments, a financial services titan with more than $7 trillion in client assets, has leapt onto cyber-money bandwagon too. This week the...
First Swiss Crypto Asset Management License Issued For Crypto Fund
For the first time in Switzerland Crypto Fund has been authorized to serve institutional patrons in the niche of cyber assets. The document which...