European Banks Bullish On Bitcoin

Vontobel and Falcon Bank - both private Swiss banks - are among the lenders who work on crypto-currency-based investments for customers. Germany's Fidor Bank and Liechtenstein Bank Frick supplies similar services.

"There are risks involved, but there are also really great opportunities," said Edie Wögerer, CEO of Bank Frick, Financial Times. "We know what to do in a security perspective, so it's a great opportunity for banks like us."

He continued to notice that his counterparts in major banks are "afraid of crypto curves" because they do not understand them, they feel threatened. "

Oliver Bussmann, president of the Crypto Valley Association in Switzerland Canton Zug near Zurich, noted that large banks out of the field in this respect had opened the door for smaller competitors.

"More and more bankers come in," he told the Financial Times.

Many banks are worried about the volatility of the price - therefore, the number of British and American banks has blocked crypto-currency purchases on credit cards.

"There may be a need for resolute counterfeiting measures," Yves Mersch, member of the board of the European Central Bank, warned last week.

But the small banks and their leadership like Mr. Wögerer remain worried.

"We hear these international statements," he said, comparing the current furor to the early days of the internet, many of which are considered a threat. "If it gets regulated and it will be regulated, we'll already adhere to it," he said.

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