The Switzerland-based monetary establishment – Leonteq AG – introduced it partnered with ICF BANK AG to introduce digital asset choices to institutional traders in addition to non-public shoppers in Germany and Austria. The initiative would grant traders publicity to 18 cryptocurrencies, together with the main ones, Bitcoin (BTC) and Ethereum (ETH).
Leonteq Stretches out of Switzerland
Leonteq AG – a Swiss agency specializing in structured monetary merchandise – introduced it will permit traders in Germany and Austria to function with 18 cryptocurrencies. These embody Bitcoin, Ethereum, Bitcoin Money, Litecoin, Ripple, Cardano, and extra.
The fintech firm additional revealed that its associate is the Frankfurt-based establishment – ICF BANK AG. Björn Geidel – Head of Crypto Providing at Leonteq – famous that the Swiss group now covers practically 76% of the whole market capitalization of the asset class within the German and Austrian areas.
“We’re proud to supply our shoppers such a broad underlying universe and distinctive funding alternatives in numerous themes throughout the crypto house resembling decentralized finance, storage or blockchain applied sciences in a securitized format” – he added.
In his flip, Sascha Rinno – a member of the ICF BANK’S Administration Board – famous that the traders within the DACH area (Austria, Germany, and Switzerland) have been exhibiting a rising urge for food for digital belongings operations. He asserted that the collaboration with Leonteq could be useful to these prepared to hitch the crypto market:
“By means of this cooperation with Leonteq, we’re assembly the curiosity of each institutional traders in addition to non-public traders in crypto belongings. Leonteq is a longtime issuer that stands for excellence and high quality within the subject of structured certificates and crypto belongings, and we’re happy to be working with them.”
Leonteq is a significant fintech firm headquartered in Zurich. It offers structured monetary merchandise in addition to insurance coverage merchandise. The agency serves greater than 50 markets and has reported over $140 billion in belongings underneath administration.
Swiss Banks Deal with Crypto
The cryptocurrency surroundings in Switzerland seems to be appropriate for the native banks as a few of them lately introduced intentions to launch such providers.
For instance, again in Could, the multinational funding financial institution – UBS Group – thought-about enabling its rich prospects to digital asset investments later in 2021. Nonetheless, the monetary establishment warned in regards to the notorious volatility of the cryptocurrency sector and would permit shoppers to allocate a “very small portion” of their complete wealth.
As CryptoPotato reported a month in the past, Sygnum Financial institution – one other Swiss-based monetary establishment – revealed it will turn out to be the primary financial institution to supply Ethereum 2.0 staking. The corporate defined that staking providers are solely built-in into its platform, highlighting elevated safety.
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