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Norway's Internet-Only Skandiabanken Launches Coinbase Integration
An internet-only bank based in Norway has integrated with digital currency exchange startup Coinbase.
By Stan Higgins
Updated Sep 11, 2021, 1:19 p.m. Published May 15, 2017, 7:10 p.m.
An internet-only bank based in Norway has integrated with digital currency exchange startup Coinbase.
According to local news service E24, Skandiabanken – a digital bank owned by savings and investments provider Skandia – will let users connect their accounts with a Coinbase one, allowing them to view their cryptocurrency balances and values.
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It’s a launch that closely mirrors one launched by US financial services firm USAA (which largely caters to the armed services market) in 2015 to a select group of clients. A year later, USAA rolled it out to all account holders.
In translated statements, representatives for Skandiabanken – claimed to be the largest bank of its kind in the region – said the launch represents a shifting stance toward digital currencies.
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"We recognize cryptocurrency as an investment class on an equal footing with other securities," Christoffer Hernæs, the bank’s chief digital officer, told the publication.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.
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