Quote from: oaktree on February 13, 2018, 06:45:05 PM

https://crypto-lines.com/2018/02/12/helping-cryptocurrencies-thrive-in-europe/?utm_source=pushengage&utm_medium=push_notification&utm_campaign=pushengage

Quote

As large financial institutions fight cryptos, small banks are helping cryptocurrencies thrive in Europe. Many large banks around the world have opted to take a tough stance against the purchase of Bitcoin and other cryptocurrencies. This move has helped fuel FUD around the crypto community but a few small banks in Europe have opted to act in contrary to this and instead they are offering their investors access to cryptos without major hurdles with some also offering advice on ICOs.

The banks that are helping cryptocurrencies thrive in Europe include Falcon Bank and Vontobel, both swiss based. They are joined by Germanys Fidor Bank and Liechtensteins Bank Frick in providing such services.

Its interesting how currently the banking system is fractured. Due to their volatility, many major banks have opposed cryptocurrencies purchases and this is something that has been expected. Add the fact that they offer a direct threat to the existence of these institutions and you see why these large banks are not big fans of cryptos.

Speaking with the financial times, Edi Wögerer, chief executive of Bank Frick said;

There are risks involved but there are also really big opportunities, we know what to do from a security perspective, so this is a big opportunity for banks like us.

I believe Kraken uses Fidor bank which has also opened a branch in the UK. Here is some more info about Fidor in the UK:

https://www.moneysavingexpert.com/news/banking/2015/09/challenger-bank-fidor-launches-in-the-uk-today-but-how-good-is-it

We should support these banks by opening accounts in them (which will also mean that it's unlikely that your account will get closed due to receiving money from an exchange).

Does anyone know of other crypto-friendly banks around the world?

Yes smaller banks are acting totally opposite to bigger banks and they just see cryptos as an opportunity to compete with bigger banks.Falcon bank and some other european banks have started to provide various services related to crypto currencies.

farhaan

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