Switzerland’s legacy bank, Hypothekarbank Lenzburg, announced this week it was accepting cryptocurrency related businesses as account holders, something many legacy financial institutions outright refuse. Among progressive societies Switzerland way further of its time, the Swiss are once again ahead of everyone. This time it’s doing so in the crypto revolution.

CEO of Hypothekarbank said to the press: “As a bank that sets itself up technologically and pursues a cooperative strategy in the field of fintech, it is also a matter of credibility to work together with the young sector of crypto and blockchain companies in Switzerland. Its earliest iteration can be traced back 150 years, and has since morphed into a mortgage, retail, and a private banking services provider, acting locally while being publicly listed.”

The Swiss were among the earliest to really see crypto’s potential, becoming a mecca for those interested in the technology and creating startups along the way. As a rival to the US’s Silicon Valley, an area in Zug has been known Crypto Valley for its broad enthusiasm of the phenomenon. Even so, in announcing its new policy Hypothekarbank Lenzburg is the country’s first bank to welcome crypto businesses.

Source:

https://news.bitcoin.com/switzerland-shows-the-way-bank-first-to-offer-crypto-business-accounts/