A Swiss mortgage lender has partnered with a local crypto asset management firm, in a move that looks set to bring access to crypto services to a more mainstream audience.
Lender Hypi Lenzburg announced it had reached agreement with local crypto startup TokenSuisse in a deal that will allow the bank to offer a broader range of services to blockchain and crypto firms.
Notably, the move comes against a backdrop of challenging banking conditions for crypto businesses in Switzerland, with some companies still unable to access sufficient banking services to operate and grow.
Despite emerging as a hotbed for development activity in the cryptocurrency and blockchain sectors, Swiss startups have struggled in recent years to secure the support of mainstream banks, over concerns about the legal picture around these nascent industries.
Following on from a previous partnership with local crypto bank Seba, the deal was pioneered by Hypi Lenzburg’s CEO, a former programmer who has pushing the agenda on behalf of the bank.
In remarks translates from German, Hypi Lenzburg CEO Marianne Wildi said the objective was eventually to offer blockchain customers a comprehensive range of services, often unavailable through other channels.
He noted, “With TokenSuisse, we engaged a very knowledgeable player in the crypto and blockchains scene. We can use the know-how and the network of these visionary pioneers purposefully for the further development of Hypothekarbank Lenzburg. Thanks to our crypto firm account offer, we know exactly which services crypto and blockchain companies are most in demand. Our goal is to offer a comprehensive offer for blockchain customers. In 2019, we will offer new service products for crypto and blockchain companies.
CEO of TokenSuisse Alain Kunz said the partnership would strengthen the crypto ecosystem by bringing together these two innovative companies. Kunz explained:
“We are convinced that the cooperation of an innovative startup like TokenSuisse with an important player like Hypi Lenzburg will further strengthen the crypto asset and blockchain ecosystem. We are pleased to support Hypothekarbank Lenzburg in the development of new products and services for the blockchain scene.”
The agreement aims to bridge the gap for crypto and blockchain companies in Switzerland, with a view to providing the access to banking they need to run optimally.
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