September 30, 2022

Swiss Fintech Firm Leonteq Expands Cryptocurrency Services to Germany and Austria

2 min read

The Switzerland-based banks – – Leonteq AG – revealed it partnered with ICF BANK AG to present digital asset offerings to institutional financiers along with private customers in Germany and Austria. The effort would approve financiers direct exposure to 18 cryptocurrencies, including the leading ones, Bitcoin (BTC) and Ethereum (ETH).

Leonteq Stretches out of Switzerland

Leonteq AG – – a Swiss firm focusing on structured financial items – announced it would enable investors in Germany and Austria to run with 18 cryptocurrencies. These consist of Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, Cardano, and more.

The fintech company further exposed that its partner is the Frankfurt-based institution – – ICF BANK AG. Björn Geidel – – Head of Crypto Offering at Leonteq – – noted that the Swiss organization now covers nearly 76% of the total market capitalization of the asset class in the German and Austrian locations.

“We are happy to provide our clients such a broad underlying universe and distinct investment chances in different styles within the crypto area such as decentralized financing, storage or blockchain technologies in a securitized format” – – he

Björn Geidel
included. – Björn Geidel, Source: Börse Social In his turn, Sascha Rinno – a member of the ICF BANK’S Management Board – – kept in mind that the financiers in the DACH region (Austria, Germany, and Switzerland) have been showing a growing cravings for digital possessions operations. He asserted that the collaboration with Leonteq would be helpful to those ready to join the crypto market:

“Through this cooperation with Leonteq, we are satisfying the interest of both institutional investors in addition to private financiers in crypto properties. Leonteq is an established issuer that means excellence and quality in the field of structured certificates and crypto assets, and we are happy to be working with them.”

Leonteq is a significant fintech business headquartered in Zurich. It supplies structured financial products in addition to insurance products. The firm serves more than 50 markets and has actually reported over $140 billion in possessions under management.

Swiss Banks Focus on Crypto

The cryptocurrency environment in Switzerland appears to be suitable for the local banks as a few of them just recently revealed intentions to release such services.

For instance, back in May, the international investment bank – – UBS Group – thought about allowing its rich clients to digital property investments later on in 2021. Nevertheless, the financial institution warned about the infamous volatility of the cryptocurrency sector and would permit customers to allocate a “really little portion” of their overall wealth.

As CryptoPotato reported a month back, Sygnum Bank – – another Swiss-based financial institution – – exposed it would end up being the very first bank to offer Ethereum 2.0 staking. The company discussed that staking services are completely integrated into its platform, highlighting increased security.