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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.
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.
"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.
Stan Higgins
A member of CoinDesk's full-time Editorial Staff since 2014, Stan has long been at the forefront of covering emerging developments in blockchain technology. Stan has previously contributed to financial websites, and is an avid reader of poetry.
Stan currently owns a small amount (<$500) worth of BTC, ENG and XTZ (See: Editorial Policy).
