Cryptocurrencies have opened up to a mixed bag of responses with some rooting in its favor and others opposing it completely. However, Bank Frick, a family-based financial institution in Liechtenstein a German speaking country in Europe has decided to allow its clients to directly invest in cryptocurrencies. This comes as a significant step on the part of Bank Frick which is set to be the world’s very first bank which is going to allow its clients to invest in cryptocurrencies. In-spite of being a small bank, it is not taking any short-cuts in its path towards cryptocurrences evolution.
The high value private clients and institutional investors remain as the primary goal of this Liechtenstein-based bank. These clients can avail of U.S. Dollars, Euros and Swiss Francs for proceeding with the purchase decision. Cold storage wallets will be used for holding all the crypto assets under the bank’s custody. This security measure is expected to ensure the security of private keys from hacker attacks. It has also been stated by the bank that thorough identification and verification needs to be conducted before allowing clients to invest in cryptocurrencies
To start with, the bank will allow investing in cryptocurrencies such as Bitcoin, Litecoin, Bitcoin Cash, Ripple and Ethereum. This comes as a significant move in part of the financial houses which are increasing their support towards cryptocurrencies. The Saudi Central banker recently revealed that it is going to concentrate more on the offers of blockchain technology in days to come.
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Rohit Kukreja
Rohit Kukreja is a Commerce graduate with Financial Markets expertise involving Stocks, Forex, Futures & Options Market and now Bitcoins & Cryptocurrency Markets. Blockchain Enthusiast but not a techie, Rohit is an active member of various Blockchain & Crypto communities all over India.
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