Goldman Sachs might have gotten a bit late into setting up its special desk for cryptocurrency based investments, as a private bank in Liechtenstein, Bank Frick Liechtenstein, recently announced its plans to offer cryptocurrency investments to its account holders.
According to the bank, it will allow its account holders the opportunity to invest in cryptocurrencies by purchasing them directly through its regulated system, and then have their cryptocurrencies held in the bank’s own cold storage to keep them safe.
The bank will offer this service for five of the most popular cryptocurrencies, namely Bitcoin, Bitcoin Cash, Ether, Litecoin, and Ripple. The customers will be able to purchase the cryptocurrencies through Euros, U.S. Dollars, and Swiss Francs.
By offering customers to buy cryptocurrency through its fully regulated system, the bank also aims that it will add an additional selling point to its service as it will ensure that the bank’s customers steer clear of any regulatory violation – something which cannot be ensured to that level if they are dealing with a relatively unknown cryptocurrency exchange.
Through its offering, Bank Frick Liechtenstein aims to become one of the primary providers of cryptocurrency purchases within the jurisdiction. It might also cement the bank’s reputation in the U.K, where it holds one branch.