Estonian bank LHV partners with Bitstamp to become the first bank in Baltics to offer crypto trading services. They have enabled the trading option directly on their app. Now that means users having a bank account with LHV do not need to use an exchange if the app is fulfilling their needs. This is also a big step as the bank stands as one of the largest in Estonia.
More about LHV’s offerings
LHV Bank is headquartered in Tallinn and is one of the largest in the country. They have all kinds of clients like small, mid, and even enterprise customers with a total of about 250k customers. LHV is also one of the largest stock exchanges and brokers in the country. So, their support for crypto trading is expected to bring in more customers and diversify their offerings. They are a major believer in digital payments and didn’t have any cash service till 2015, after which they opened 10 ATMs.
Very soon, their users will be able to transact crypto directly from their mobile platform. It is expected that the integration with Bitstamp will keep the app secure and fluent. Users who buy the crypto from their app will have their assets stored under the Bitgo platform, which is also very secure. It is good to see LHV finally enter the crypto space as they had started working in blockchain back in 2015. The bank reported all they were waiting for was the market to evolve and some regulation in the space.
LHV’s chairman on crypto
Madis Toomsalu said that crypto had become one of the largest in terms of market value and DeFi services. He also added that the market is maturing and evolving at an incredible pace. And considering the same, they are ready to add this asset class to the already diverse range of products they offer. Madis does address the fact crypto is volatile and risky, but for someone who understands the risks involved, it can be a great asset in one’s portfolio. At present, the supported cryptocurrencies on their app are BTC, ETH, LTC, UNI, LINK, XLM, MATIC, and AAVE.
What are your thoughts as the Estonian bank LHV partners with Bitstamp to offer crypto services? And do you think this is going to help in adoption? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: 96% of Americans lack basic crypto knowledge, suggests crypto literacy report.
