The expected next step… Establishing the first cryptocurrency bank

The expected next step… Establishing the first cryptocurrency bank

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Answer The expected next step… Establishing the first cryptocurrency bank

impose circulation Cryptocurrency A new reality, and blockchain technology has become an active factor in shaping this reality.

And since Switzerland was and still is a pivotal center in the fiat currency market, it also took a lead in the new reality = the reality of digital currencies and technology Blockchain.

Hypothekarbank Lenzburg became the first bank in Switzerland to provide business account services to companies Blockchain And theCryptocurrency.

This was not the first step in the same framework, Falcon Private Bank took a similar step in adding asset management services since last year, but what distinguishes Hypothekarbank Lenzburg is that it is the first bank in the country to open business accounts to IT companies Related toCryptocurrency encryption and technology BlockchainAs stated by Marianne Wilde, CEO of the bank.

Read:What is the future of the ICON project and the ICX cryptocurrency?

Wilde added that as the bank sets itself a global benchmark and pursues a collaborative strategy in the fintech field, it is also about credibility and responsibility to work with the young and growing sector of financial firms.Digital, crypto and blockchain currencies and those interested in the field in general.

And because security and protection issues are the biggest concern of the pioneers in this field, “Wildy” indicated that it is sufficiently familiar with the issues of money laundering, piracy and other problems associated with the market for trading this type of currency, especially in the initial coin offerings “ICOs”, the bank has taken a comprehensive procedure For examining relevant risk and compliance issues, and then informing the Swiss Financial Market Supervisory Authority “FINMA” before making a decision in cooperation with cryptocurrency companies, especially emerging ones.

In order to ensure the protection rates, the bank officials imposed very complex selective procedures before accepting any new customer in order to ensure his financial and digital innocence.

Thus, the canton of Zug in Switzerland becomes a global center for the field of digital and cryptocurrency, hence the name “Valley of Digital Currency”, but the restrictive policies imposed by traditional banks still deter many companies from such banks to look abroad for banking services.

Read:Exploiting a DeFi project built on the BSC blockchain and stealing $80 million from BNB

Does it suggest the influx of companies Cryptocurrency To an inevitable change in this traditional thinking?!

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