First Bank to Open Crypto Business Accounts in Switzerland
The Swiss Hypothekarbank Lenzburg has announced that they will be accepting accounts of businesses related to cryptocurrencies. It becomes the first bank in Switzerland with such an offering.
The Crypto Valley
Switzerland has always been ahead of many in its crypto findings. It even became a popular place for many investors to contribute to the new technology. Nowadays, in the city of Zug, a place known as Switzerland’s Crypto Valley has became the headquarters for many crypto startups. It is a sort of a rival to the US’s Silicon Valley.
The progress and enthusiasm of people there have given roots for initiation of the first bank to accept crypto businesses.
Bank’s CEO Marianne Wildi commented that for their bank it is important to act strategically in technological areas to maintain trust from the blockchain sector of Switzerland.
She explained that they are cooperating with informed experts who have knowledge in crypto customs, which will help them make accurate arrangements with the customers.
The Hypothekarbank Lenzburg became the first to accept crypto business accounts, however, there are others that have been already acting in the crypto sphere. Bank Frick of Lichtenstein offers its users cold storage on various cryptocurrencies, while Falcon Private Bank has claimed to be dealing with crypto asset management.