{"id":7406,"date":"2018-06-07T10:06:31","date_gmt":"2018-06-07T10:06:31","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=7406"},"modified":"2018-06-07T11:46:45","modified_gmt":"2018-06-07T11:46:45","slug":"first-swiss-bank-to-offer-business-accounts-to-crypto-companies","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/first-swiss-bank-to-offer-business-accounts-to-crypto-companies\/","title":{"rendered":"First Swiss Bank To Offer Business Accounts To Crypto Companies"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/06\/hypothekarbank-lenzburg.jpg\" alt=\"Hypothekarbank Lenzburg\" width=\"300\" class=\"alignright size-full wp-image-7409\" \/>As banks and several financial institutions consider cryptocurrencies as their direct competitor, blockchain technology companies often find it hard to open business accounts. Even in crypto-friendly countries, there are so many hurdles faced by blockchain companies to open business accounts and the situation is not different in Switzerland.<\/p>\n<p>However, the situation is about to change as Hypothekarbank Lenzburg has come forward to offer business accounts to blockchain technology and cryptocurrency companies.<\/p>\n<p>Last year, Falcon Private Bank started providing crypto asset management services. However, they do not offer business accounts to crypto companies. <strong>Marianne Wildi, CEO of Hypothekarbank Lenzburg<\/strong> confirmed that they are the first bank in Switzerland to provide company accounts for fintech companies involved in blockchain technology <a href=\"https:\/\/www.legitgambling.com\/cryptocurrency\">and other cryptocurrency related businesses. <\/a><\/p>\n<p>Commenting on the decision to provide business accounts, <strong>Wildi<\/strong> said<\/p>\n<blockquote><p>&#8220;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&#8221;.<\/p><\/blockquote>\n<p><a href=\"https:\/\/www.finews.ch\/news\/banken\/32069-hypothekarbank-lenzburg-marianne-wildi-krypto-blockchain-firmenkunden\">Wildi stated the bank <\/a>is very much aware of money laundering and ICO related issues faced by the crypto industry. She further explained the decision to provide business accounts were made after examining the risks and compliance issues <strong>\u201cvery precisely\u201d<\/strong>. Wildi also revealed that Hypothekarbank Lenzburg has informed the <strong>Swiss Financial Market Supervisory Authority (FINMA)<\/strong> before engaging with cryptocurrency startups.<\/p>\n<p>After rigorous due diligence process, Hypothekarbank Lenzburg has so far accepted only two clients from the cryptocurrency industry. Despite these restrictions, the Swiss canton of Zug has become a prominent center for cryptocurrency related activities and is called as <strong>\u201cCrypto Valley\u201d<\/strong>.<\/p>\n<p>In Lichtenstein, <a href=\"https:\/\/www.legitgambling.com\/news\/cryptocurrencies-safe-custody-facility-offered-by-bank-in-europe\/\">Bank Frick has been offering cryptocurrency assets<\/a> (Bitcoin, Bitcoin Cash, Ripple, Ethereum, and Litecoin) and cold storage facility to its clients since February.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As banks and several financial institutions consider cryptocurrencies as their direct competitor, blockchain technology companies often find it hard to open business accounts. Even in crypto-friendly countries, there are so many hurdles faced by blockchain companies to open business accounts and the situation is not different in Switzerland. However, the situation is about to change [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68],"tags":[],"class_list":["post-7406","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>First Swiss Bank To Offer Business Accounts To Crypto Companies<\/title>\n<meta name=\"description\" content=\"Hypothekarbank Lenzburg has come forward to offer business accounts to blockchain technology and cryptocurrency companies, after performing due diligence. It is the first time a Swiss bank is offering business accounts to blockchain and cryptocurrency companies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/first-swiss-bank-to-offer-business-accounts-to-crypto-companies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Swiss Bank To Offer Business Accounts To Crypto Companies\" \/>\n<meta property=\"og:description\" content=\"Hypothekarbank Lenzburg has come forward to offer business accounts to blockchain technology and cryptocurrency companies, after performing due diligence. It is the first time a Swiss bank is offering business accounts to blockchain and cryptocurrency companies.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/first-swiss-bank-to-offer-business-accounts-to-crypto-companies\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-07T10:06:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-06-07T11:46:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/06\/hypothekarbank-lenzburg.jpg\" \/>\n<meta name=\"author\" content=\"Cameron Bishop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cameron Bishop\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/first-swiss-bank-to-offer-business-accounts-to-crypto-companies\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/first-swiss-bank-to-offer-business-accounts-to-crypto-companies\\\/\"},\"author\":{\"name\":\"Cameron Bishop\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"headline\":\"First Swiss Bank To Offer Business Accounts To Crypto Companies\",\"datePublished\":\"2018-06-07T10:06:31+00:00\",\"dateModified\":\"2018-06-07T11:46:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/first-swiss-bank-to-offer-business-accounts-to-crypto-companies\\\/\"},\"wordCount\":308,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/first-swiss-bank-to-offer-business-accounts-to-crypto-companies\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/hypothekarbank-lenzburg.jpg\",\"articleSection\":[\"Cryptocurrency\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/first-swiss-bank-to-offer-business-accounts-to-crypto-companies\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/first-swiss-bank-to-offer-business-accounts-to-crypto-companies\\\/\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/first-swiss-bank-to-offer-business-accounts-to-crypto-companies\\\/\",\"name\":\"First Swiss Bank To Offer Business Accounts To Crypto Companies\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/first-swiss-bank-to-offer-business-accounts-to-crypto-companies\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/first-swiss-bank-to-offer-business-accounts-to-crypto-companies\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/hypothekarbank-lenzburg.jpg\",\"datePublished\":\"2018-06-07T10:06:31+00:00\",\"dateModified\":\"2018-06-07T11:46:45+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"description\":\"Hypothekarbank Lenzburg has come forward to offer business accounts to blockchain technology and cryptocurrency companies, after performing due diligence. 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