18.01.2022
In addition to the LHV mobile app, LHV clients can now trade 10 popular crypto assets via the Internet bank. In the last two months, LHV has carried out EUR 20 million worth of crypto asset transactions.
LHV is the only bank in Estonia to offer crypto asset transactions to its clients. The option, which became available in November on the bank’s mobile app, has now also reached the LHV Internet bank. There are 10 popular crypto assets to choose from and you can view the status of your crypto investments alongside your other assets. The bank is constantly developing the service, with Cardano and Axie Infinity joining the initial eight crypto assets a month ago. The ability to see the market depth of crypto assets in real-time has also been added to the Internet bank, meaning you can see the orders on the market before you make a trade to better plan your transaction. Next, ahead of the income tax return period, it is planned to include information on crypto assets in investment tax reports.
‘We have seen that the crypto trading facility offered in our trusted environment has been well received by our clients. While it is a highly volatile and high-risk asset class, cryptocurrencies can play their part in the portfolio of an informed client. Since the product was brought to market, customers have traded nearly EUR 20 million in crypto assets, with Bitcoin and Ethereum being the most popular. Considering the increasingly mature level of development of crypto assets and their rapid growth as a new asset class, we are developing this service further and have brought the possibility of making transactions to the Internet Bank,’ commented Martin Mets, Chief Product Officer at LHV Pank.
In order to perform transactions with crypto assets in the LHV Internet Bank, the client must fill in the relevant questionnaire and agree to the terms and conditions governing crypto services. All of this can be done both conveniently and electronically in the Internet bank. To purchase crypto assets, you need to select the ‘Buy and Sell Crypto Assets’ option in the ‘Grow Money’ section.
Currently, LHV clients can buy and sell the following crypto assets at market prices:
- Bitcoin (BTC)
- Ether (ETH)
- Litecoin (LTC)
- Uniswap (UNI)
- Chainlink (LINK)
- Stellar Lumens (XLM)
- Polygon (MATIC)
- Aave (AAVE)
- Cardano (ADA)
- Axie Infinity (AXS)
See more: www.lhv.ee/krypto
LHV offers the service in partnership with the biggest names in the industry. Transactions are carried out on the Bitstamp crypto exchange, which is one of the five largest licensed crypto exchanges in the world. The crypto assets belonging to clients are securely held on the BitGo platform, which is part of the Galaxy Digital group, listed on the Toronto Stock Exchange.
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. LHV employs over 650 people. As at the end of November, LHV’s banking services are being used by 316,000 clients, the pension funds managed by LHV have 138,000 active clients, and LHV Kindlustus protects a total of 142,000 clients. LHV’s UK branch offers banking infrastructure to 180 international financial services companies, via which LHV’s payment services reach clients around the world.
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