LHV reported for this present week that it has turned into “the first bank in Estonia to offer its clients the opportunity to trade in crypto assets.” Starting Monday, LHV clients can exchange major crypto assets directly on its portable application. Exchanges are completed on the digital money trade Bitstamp. Customers’ crypto assets are held on the Bitgo stage, which is essential for the Toronto Stock Exchange-recorded Galaxy Digital Group. The bank began trying different things with blockchain innovation in 2015.
Madis Toomsalu, chairman of the management board of LHV Group, commented: “By today, crypto assets have become a large field in terms of both market value as well as turnovers based on decentralized financial services.” Toomsalu elaborated: We will be the first bank in the Baltics to start offering crypto trading to our clients – as the first step, they will be able to buy and sell crypto assets on the LHV mobile app.
Since then, “We have been waiting for the regulatory environment to evolve, for the market to become organized, and for professional market players to emerge,” the bank noted.
Martin Mets, LHV’s head of investment services in retail banking, said: “Considering the increasingly mature level of development of crypto assets and their rapidly 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.”
Mets detailed: In the near future, we plan to add new instruments, order types and other solutions for more convenient trading.
Initially, customers can now buy and sell eight selected major cryptocurrencies at market prices: bitcoin (BTC), ether (ETH), litecoin (LTC), uniswap (UNI), chainlink (LINK), stellar lumens (XLM), polygon (MATIC), and aave (AAVE).
News Summary:
- Estonian Leading Bank LHV Starts Offering Cryptocurrency Trading Via Bitstamp
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