Leonteq, a financial institution based in Switzerland, declared its partnership with ICF BANK AG for initiating crypto-asset services to benefit private clients and institutional investors in Austria and Germany. This would uncover 18 cryptocurrencies counting BTC (Bitcoin) and ETH (Ethereum) within them to the investors.
Leonteq expands beyond Switzerland
Leonteq AG (a Swiss company known for organized financial products) made an announcement that it would enable investors in Austria and Germany to trade using 18 cryptocurrencies. Bitcoin, Ethereum, Cardano, Ripple, Litecoin, Bitcoin Cash, and others are included in the offered currencies.
The fintech firm further disclosed that ICF BANK AG (an institution based in Frankfurt) is collaborating with it in this respect. Björn Geidel, the head of Leonteq, stated that the company now occupies approximately 76% of the asset class’ whole market capitalization in the Austrian as well as German area. He added that the firm is pleased to provide its customers with such an original world and exclusive opportunities for making investments in several themes included in the crypto universe like decentralized finance (DeFi) and blockchain technologies in a secured manner.
Sascha Rinno, a management board member at ICF BANK, pointed out that depositors existing in the DACH area (Switzerland, Germany, and Austria) have been presenting an increasing interest in the crypto assets operations. It was further asserted by him that Leonteq’s partnership would be advantageous for the people interested in joining the crypto market. By means of this cooperation, he said, both the private and institutional investors would be entertained regarding the crypto assets. Leonteq is a recognized provider known for its quality as well as excellence on the grounds of crypto assets and structured certificates; thus, the bank is delighted to work with them.
Swiss banks have become favorable for crypto
The overall crypto atmosphere of Switzerland seems to be adequate for the native banks due to the announcement of a few of them regarding their intentions to initiate crypto services. In May, for instance, UBS Group (a multinational bank for investments) pronounced its intentions to allow wealthy consumers to make the investments in digital assets during the later period of the year. Nonetheless, it warned against cryptocurrency’s notorious volatility that would restrict the customers to allocate only a short amount of their whole wealth to be allocated. Another financial institution of Switzerland has disclosed that it intends to turn into the first bank offering Ethereum 2.0 staking.