Liechtenstein Bank Introduces Crypto Services, Witnesses Massive Traffic Surge

For long, the world has been witness to the frenzy that surrounds cryptocurrencies. It’s no secret that digital assets have become significantly more popular with time and they are the focus of speculation and intrigue in the market.

The city of Liechtenstein in Europe is one of the lesser known cities in the region. However, it is a name that has popped up time and again when we talk about the crypto industry in Europe. This is so because it is relatively more crypto friendly than some other major cities in Europe.

It’s thereby notable, that Bank Frick in Liechtenstein reported a monumental surge in popularity recently, after it launched its crypto-related services. The bank has reported a 900 percent increase in web traffic since the launch. This just goes to show that the demand for crypto related services are high in the market at the moment.

Bank Frick received considerable support from the government and the crypto friendly the regulatory climate of the region was conducive to its growth. Bank Frick now offers customers the option to purchase crypto directly with fiat currency. The bank has also created their own proprietary cold storage for safekeeping of digital assets. It also offers them as custody service to its clients.

Other banks in the region have also made efforts to integrate crypto into the mainstream. For example, Union Service Bank of Liechtenstein, launched its own stablecoin and security token last year. This move was met with great encouragement and appreciation from the general populous of the city.

The cryptocurrency exchange giant Binance, opened a brand new fiat-crypto exchange in the country back in 2018, in line with their ever increasing expansion policy. Additionally, the country’s national post office also offers services to exchange crypto. Binance also opened a new fiat-crypto exchange in the country back in 2018, as part of its continuing global expansion

According to the reports or traffic increase on Bank Frick’s site, it was reported that the site’s traffic peaked at around 1250 visitors in a month recently, compared to just 200 per month before its crypto adoption.

This is another nod in the direction of crypto, proving that it is slowly spreading like a wildfire and proving that there is a solid market out there for cryptocurrency.