Published On: Wed, Feb 14th, 2018

Europe’s Small Banks See Crypto as Opportunity to Take on Big Banks

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Unlike larger banks who are criticizing crypto, some smaller institutions in Switzerland, Germany and Liechtenstein are bucking the trend. They are are instead offering their clients opportunities to be a part of the digital currency revolution.
Big banks are losing out
Whether it be as a method to control the financial freedom that cryptocurrencies offer, or as a genuine way to introduce virtual currencies to the masses, regulation is on the increase.
While some major banks are declining crypto-related transactions, smaller institutions are of the opposite view. According to the Financial Times, Swiss private banks Vontobel and Falcon Bank, as well as Fidor Bank in Germany and Bank Frick in Liechtenstein, have rather embraced the industry by offering a range of crypto services.

Edi Wögerer, who is the chief executive of Bank Frick, had this to say:
“There are risks involved but there are also really big opportunities. We know what to do from a security perspective so this is a big opportunity for banks like us.”
Wögerer added to the common chorus that bigger institutions see virtual currencies as a danger to their well-established status quo. He said that larger banks were “ …

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