Swiss Hypothekerbank Lenzburg announced this week that it is prepared to serve as an account holder for companies dealing with cryptocurrencies. The bank, represented by Director-General Marianne Wilde, said:

“We see ourselves as a bank that is technologically advanced and implements a consistent fintech strategy, working with Swiss companies from the young crypto and blockchain sectors.”

The bank has existed for more than 150 years, and since then, the company has become a giant of mortgage, retail and private banking services operating at a local level, with shares traded on the stock exchange. Of course, the Swiss were among the first to really see the potential of crypto and become a Mecca for those interested in this technology and starting up start-ups. As a competitor to Silicon Valley in the US, the Zug region has been recognized as “Crypto Valley” for its ambitions in the crypt world. With the announcement of its new policy, Mortgage Bank is the country’s first bank to welcome crypto companies.

Trend?

Before the mortgage bank made its loud statement, the general financial community has already heard the opening of businesses within the cryptosphere. For example, last year Falcon Private Bank made headlines with its “Cryptocurrency and Asset Management Fund”. In addition, Liechtenstein’s Liechtenstein bank Frek continues to offer its clients safekeeping and access to the most popular coins such as Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Ripple.