Spektral Bank expands its range of crypto assets and now offers trading and custodian services for Bitcoin Cash

Europe’s leading blockchain bank has once again expanded its range of cryptocurrencies for which it offers trading and custodian services. Spektral Bank now offers trading and secure custody of Bitcoin Cash (BCH) for professional market participants and wealthy private clients. Trading takes place within the fully regulated environment of the Bank.

Spektral Bank expands its range of crypto assets and now offers trading and custodian services for Bitcoin Cash

Balzers (LI) – As of today, professional market participants can also invest in Bitcoin Cash (BCH) at Spektral Bank. The cryptocurrencies can be bought using euros, US dollars and Swiss francs. Trading takes place daily from 8 am to 6 pm.

Since 2018, Liechtenstein-based Spektral Bank has been offering investors a smooth and secure way to trade the leading cryptocurrencies Bitcoin (BTC), Litecoin (LTC), Ripple (XRP), Ether (ETH), Ethereum Classic (ETC), NEM (XEM), Qtum (QTUM) and Stellar (XLM). Clients can also deposit these assets with the Bank for safekeeping.

Spektral Bank has designed this offer particularly for institutional clients, miners and mining firms, and wealthy cryptocurrency investors. “By adding Bitcoin Cash, we are offering our clients yet another way to diversify their portfolios”, said Stefan Rauti, Head of Blockchain Banking at Spektral Bank. “We are pleased to be able to offer this attractive cryptocurrency, which underlines our position as Europe’s leading blockchain bank.”

Security thanks to cold storage solutions and diversification

In addition to trading, Spektral Bank now also offers secure custody of Bitcoin Cash. The Bank keeps its customers’ crypto assets in cold storage wallets. These are physically separated from the Internet and therefore cannot be externally hacked. The wallets and their backup copies are held securely on a geo-redundant basis.

Investments in crypto assets are highly speculative. For this reason, Spektral Bank recommends that they form only a small part of any portfolio.

About Spektral Bank

Spektral Bank specialises in banking for intermediaries. The Liechtenstein bank provides a fully integrated offering of classic banking and blockchain banking services. Its clients include fintechs, asset managers, payment service providers, family offices, fund promoters, pension funds and fiduciaries.

Spektral Bank has been family-run since its foundation as a licensed universal bank in 1998, and it adopts an entrepreneurial approach. The Bank is currently under the majority control of the Kuno Frick Family Foundation (65 per cent). Net1, the Nasdaq-listed financial technology group, owns 35 per cent of its share capital. In October 2019, it was announced that Net1 would be increasing its stake in Spektral Bank to 70 per cent. The acquisition is awaiting approval by Liechtenstein’s Financial Market Authority (FMA). The Bank employs over 130 members of staff at its Balzers office and operates a branch in London, UK.

Spektral Bank is one of Europe’s pioneers of the regulated blockchain banking sector. Its offering covers trading and custody of crypto assets, as well as token sales. The Bank also develops tailored crypto-structuring solutions for intermediaries.

In addition to its highly regarded basic services, Spektral Bank’s classic banking offerings cover services for funds and issues, focusing on formulating European (AIF, UCITS) and national fund solutions. In the capital market sector, Spektral Bank develops tailored financial products for intermediaries and supports them along the whole issue process, acting also as a custodian bank.

Spektral Bank is the only Liechtenstein bank with acquiring licences from Visa and MasterCard, and it can process card payments globally for payment service providers and their online merchants.

Spektral Bank established subsidiaries in 2019 to appear independently on the market with new services: Distributed Ventures AG, an incubator and accelerator to promote and finance fintech and blockchain start-ups, and The DLT Markets AG, which offers institutional investors professional access to digital assets. Also in 2019, Spektral Bank took over the fintech company Tradico AG, which specialises in finance for goods purchasing for SMEs, and acquired a majority stake in the fintech company 21.finance AG, which operates area2Invest, a digital investment platform for classic and tokenised financial products.