An internet-only bank based in Norway has integrated with digital currency exchange startup Coinbase.
According to local news service E24, Skandiabanken - a digital bank owned by savings and investments provider Skandia - will let users connect their accounts with a Coinbase one, allowing them to view their cryptocurrency balances and values.
It's a launch that closely mirrors one launched by US financial services firm USAA (which largely caters to the armed services market) in 2015 to a select group of clients. A year later, USAA rolled it out to all account holders.
In translated statements, representatives for Skandiabanken - claimed to be the largest bank of its kind in the region - said the launch represents a shifting stance toward digital currencies.
"We recognize cryptocurrency as an investment class on an equal footing with other securities," Christoffer Hernæs, the bank's chief digital officer, told the publication.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.coindesk.com/norways-internet-skandiabanken-launches-coinbase-integration/