Leonteq AG, a major Swiss finance organisation, has announced its plans to expand services to Germany and Austria. To that end, Leonteq partnered with ICF BANK AG, Germany’s leading brokerage service provider. The goal is to allow German and Austrian institutional investors and individual clients to trade 18 cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP), Cardano (ADA), and others.
Leonteq’s current market coverage scores over 50 markets and operates $140 billion (~£100 billion) worth of assets. In Germany and Austria, the company currently covers almost 76% of the total market cap of the asset class, according to Björn Geidel, Head of Crypto Offerings.
“We are proud to offer our clients such a broad underlying universe and unique investment opportunities in various themes within the crypto space such as decentralised finance, storage, or blockchain technologies in a securitised format,” added Björn.
Sascha Rinno, member of the ICF Management Board, has pointed out the growing interest in digital asset trade among investors in the DACH region, which includes Austria, Germany, and Switzerland. He further added that collaboration with Leonteq would benefit anyone seeking to join the crypto market.
“Through this cooperation with Leonteq, we are meeting the interest of both institutional investors as well as private investors in crypto assets. Leonteq is an established issuer that stands for excellence and quality in the field of structured certificates and crypto assets, and we are pleased to be working with them.”
It seems as though the crypto environment accords with the vision of Swiss national banks, seeing as some of them have already announced their plans to extend their services into the crypto sector. Back in May, the idea crossed minds at UBS, a multinational investment bank. The bank considered allowing its most affluent customers to trade in digital assets. However, it warned about the high volatility of the crypto sector and encouraged clients only to invest a fraction of their wealth.
Another Swiss financial institution called Sygnum Bank has proudly announced that it would be the first to offer Ethereum 2.0 staking. According to the company’s statement, staking is fully integrated into its platform, which guarantees high level of security.
As we can see, more and more investors worldwide are considering Bitcoin as an independent asset class. Suffice to say, those flexible enough to adjust their services to the growing demand and the ever-shifting nature of the crypto market will be the ones to skim the cream.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
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