Denmark’s Largest Bank, Danske Bank, Lifts Eight-Year Crypto Ban! Here Are the Details

Danske Bank, Denmark’s largest bank, has ended its eight-year ban on cryptocurrency-related services by beginning to offer Bitcoin and Ethereum ETPs (exchange-traded products) to its customers. The bank announced that the new products are accessible through both online banking and its mobile application.

These ETPs provide investors with exposure to Bitcoin and Ethereum price movements without requiring clients to directly purchase crypto assets or assume responsibility for token custody.

This allows users to invest in the cryptocurrency market indirectly without dealing with technical processes such as wallet management and private key security.

Danske Bank stated that there were two main factors behind this decision: increasing customer demand and improvements in regulations regarding crypto assets in recent years. The bank said that the market has matured and the regulatory framework has become clearer, making risk management easier in offering investment products.

However, Danske Bank maintained its cautious approach to cryptocurrencies. The bank emphasized that it does not recommend crypto as an asset class, viewing such investments as “high-risk” and more “opportunity-driven.” The bank also noted the continued presence of sudden price fluctuations and market risks in crypto investments.

This development stands out as a new example indicating a gradual shift in the attitude of major European banks towards cryptocurrencies.

*This is not investment advice.

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