Author：Crypto Falcon

Denmark’s largest bank, Danske Bank, will begin offering bitcoin and other crypto trading products to its clients. Per a press release from the bank, Customers using Danske Bank’s trading platform will now be able to invest in carefully selected investment products that track Bitcoin and Ethereum. The decision by Denmark’s largest lender reverses years of resistance to the digital asset class.

Customers at the Danish bank can access crypto trading via Danske eBanking and Danske Mobile Banking. Investments will be made via ETPs (exchange-traded products), which are listed products that invest in the two cryptocurrencies. The bank also highlighted that the selected products come from established providers such as BlackRock and WisdomTree. The new investment option targets customers who invest using our trading platform without receiving any investment advice. Danske Bank joins Deutsche, Sberbank, JPMorgan, and other top institutions to offer crypto services.

Additionally, the bank says that before customers can trade the products, they will require a suitability assessment. Investors must answer questions designed to confirm they understand the risks and characteristics of cryptocurrency-linked investments. While the move is a major shift, Danske still advises that crypto is not a major part of its long-term plans.

Also Read: Solana Risks Falling Below $80 As Bitcoin Falls To $66,000 Again

“As cryptocurrencies have become a more common asset class, we are receiving an increasing number of enquiries from customers wanting the option of investing in cryptocurrencies as part of their investment portfolio,” says Kerstin Lysholm, Head of Investment Products & Offering at Danske Bank. “Moreover, the area has become better regulated in recent years as a result of, for instance, the EU’s MiCA Regulation (Markets in Crypto-Assets Regulation), and this has generally increased confidence in cryptocurrencies. On balance, we have therefore come to the conclusion that the time is ripe for making cryptocurrency investment products available to the customers who want to invest in the asset class and who accept the very high risks involved in cryptocurrency-related investments.”

The traditional banking sector has evolved drastically in the past few years. As crypto has taken the spotlight, investors have swung heavily towards the digital asset industry away from fiat. Despite the latter’s recent decline in market capitalization, cryptocurrency is still highly favored, and Danske Bank appears ready to bring the industry to its customers.