Leonteq Fintech firm expands crypto services to Germany and Austria

Leonteq Fintech firm expands crypto services to Germany and Austria

BUSINESS | Aug 16, 2021 | WOZINGA NEWS

Leonteq Fintech firm expands crypto services to Germany and Austria

  • Leonteq AG, based in Zurich, announced plans to expand its cryptocurrency services to Germany and Austria.

By Elah Mae Ariate Wozinga Journalist

This financial institution established in Switzerland, announced a partnership with ICF BANK AG. They will offer digital asset services to institutional and also private clients in Germany and Austria.

The initiative would expose investors to 18 cryptocurrencies, including the two most popular, Bitcoin (BTC) and also Ethereum (ETH).

Leonteq Extends from Switzerland

Leonteq AG, a Swiss firm specializing in structured financial products, announced that 18 cryptocurrencies will be available to investors in Germany and Austria. These includes, Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, Cardano, and more.

The fintech firm went on to say that its partner is the Frankfurt-based institution ICF BANK AG. According to Björn Geidel, Head of Crypto Offering at Leonteq, the Swiss organization now accounts for nearly 76 percent of the total market capitalization of the asset class in Germany and Austria.

According to Sascha Rinno, a member of the ICF BANK Management Board. Investors in the DACH region (Austria, Germany, and also Switzerland) have a growing appetite for digital asset operations. He claimed that the collaboration with Leonteq would benefit those looking to enter the crypto market.

Swiss Banks Are Investing in Cryptocurrency

In addition, the cryptocurrency environment in Switzerland appears to be suitable for the local banks. Some of them recently announced intentions to launch such services, based on the report.

For example, in May, the multinational investment bank UBS Group considered allowing its wealthy customers to invest in digital assets later in 2021. However, the financial institution warned about the cryptocurrency sector’s infamous volatility and said it would only allow clients to allocate a “very small portion” of their total wealth.

On the other hand, according to the report, Sygnum Bank, another Swiss-based financial institution, announced it would be the first to offer Ethereum 2.0 staking. The company stated that staking services are completely integrated into its platform, emphasizing increased security.

Do you think this will attract other crypto companies to expand?

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