One of Estonia’s largest banks, LHV, now offers cryptocurrency trading directly from its app through the Bitstamp cryptocurrency exchange. The bank claims to be “the first Baltic bank to start offering cryptocurrency trading.”
Estonia’s Leading Bank Now Offers Crypto Transactions
LHV announced this week that it has become “the first Estonian bank to offer its customers the possibility of trading crypto assets”.
Starting Monday, LHV customers can trade key crypto assets directly from their mobile app. Transactions are carried out on the Bitstamp cryptocurrency exchange. Client crypto assets are held on the Bitgo platform, which is part of the Galaxy Digital group, which is listed on the Toronto Stock Exchange.
The bank started experimenting with blockchain technology in 2015. Since then, “we have been awaiting the evolution of the regulatory environment, the organization of the market and the emergence of professional players in the market,” notes the bank.
Madis Toomsalu, Chairman of LHV Group, commented: “Today, crypto assets have become a huge field in terms of market value and billing based on decentralized financial services.” Toomsalu has developed:
We will be the first bank in the Baltic to start offering crypto operations to our clients; As a first step, they will be able to buy and sell crypto assets on the LHV mobile app.
Martin Mets, Head of Retail Banking Investment Services at LHV, said: “With the increasingly advanced level of development of crypto assets and their growing popularity as a new asset class, we are ready to add this asset class to the range of products offered to LHV bank clients. LHV added: “This is clearly a very volatile and high risk asset class, but for a risk conscious client, crypto assets can play an important role in the portfolio.”
Initially, customers can now buy and sell eight major selected cryptocurrencies at market prices: bitcoin (BTC), ether (ETH), litecoin (LTC), uniswap (UNI), chain link (LINK), stellar lumens ( XLM), polygon (MATIC) and aave (AAVE).