Norwegian on-line bank Skandiabanken now recognizes bitcoin as a new investment class and allows its consumers to access their bitcoin holdings via its on-line banking platform, according to a Norwegian media file.
through an integration of the Coinbase wallet, which permits the shopping for and storing of cryptocurrency holdings in bitcoin, ether and litecoin, the bank’s consumers now have direct get admission to to these holdings the use of Skandiabanken’s online banking.
Christoffer Hernæs, head of innovation and development at Skandiabanken, said that Skandiabanken “acknowledge[s] cryptocurrency as an funding class” and that it has “an equal footing with other securities.”
Skandiabanken is, subsequently, one of the vital first monetary establishments to publicly well known bitcoin instead funding asset class at a time when the overwhelming majority of its competitors are shunning the cryptocurrency that many imagine poses a chance to the present banking industry variation.
Hernæs also points out that Japan has lately moved to officially recognize bitcoin as a felony payment approach, and that bitcoin’s average daily volatility has lowered from 10 p.c to 4 p.c ultimate yr.
Bitcoin’s decrease in volatility and the sharp increase in worth over the last one year have led to a wave of recent bitcoin users around the globe. In Norway, more and more people are actually additionally turning their eyes towards digital currencies, Hernæs said.
now not all banks in Norway share Skandiabanken’s enthusiasm for providing its customers get entry to to bitcoin as a new investment category. Norway’s biggest financial institution, DNB, closed the checking account of Norges Bitcoinforening, Norway’s Bitcoin association, in September 2016, citing considerations that the affiliation’s cash can have a connection with cash laundering and terrorist financing.
Hernæs acknowledges DNB’s problem in regard to the united states of america’s strict anti-cash laundering rules that require a stringent review of every banking client. then again, he additionally said, “We recognize that that is one thing individuals wish to put their cash in. when we suppose it is right to look at new solutions we are able to supply, we predict it is a better way than categorically pondering that that is horrifying.”
the head of Norway’s Bitcoin association, Stephan Nilsson, is happy about Skandiabanken’s new Bitcoin carrier: “this is very positive. These are the signals now we have been waiting for from the Norwegian banking business.”
Skandiabanken joins the ranks of the very few banks in Europe which can be embracing Bitcoin. most effective Germany-based totally Fidor financial institution and Georgia-based totally Liberty bank supply identical products and services to its shoppers. Fidor bank permits German consumers to buy and promote bitcoin directly thru a collaboration with bitcoin.de, and Liberty financial institution lets in its buyers to purchase bitcoin through its ATM community in Georgia.
Facebook
Twitter
Instagram
Google+
LinkedIn
RSS