An internet-only bank based in Norway has integrated with digital currency exchange startup Coinbase.
According to local news service E24, Skandiabanken â a digital bank owned by savings and investments provider Skandia â will let users connect their accounts with a Coinbase one, allowing them to view their cryptocurrency balances and values.
Itâs 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 â claimed to be the largest bank of its kind in the region â said the launch represents a shifting stance toward digital currencies.
âWe recognize cryptocurrency as an investment class on an equal footing with other securities,â Christoffer Hernæs, the bankâs chief digital officer, told the publication.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.