hat is a crypto-friendly bank?
A crypto-friendly bank is one that facilitates access to and use of crypto-assets. Many traditional banks are still very wary of sending or receiving money via crypto platforms. Lack of regulation, unfamiliarity with this innovative technology and bad press have fuelled the fear of some financial institutions to position themselves in this complex ecosystem.
Conversely, crypto-friendly banks, which are mostly online banks, do not block this type of transaction. Incoming and outgoing transfers are permitted. What’s more, for some crypto-friendly banks, adoption goes well beyond this, offering dedicated crypto services to meet their customers’ needs. Thus, we can observe the emergence of new financial services such as cryptocurrency account aggregation and crypto investment offerings. These banks thus enable their customers to view all their accounts, including their crypto-assetDigital asset based on cryptography principles. Peer to peer traded, on a decentralized network, thanks to Distributed Ledger Technologies such as blockchain. The user is integrated into storage and transaction portfolio within their usual application.
Some banks are actively working to offer other services adapted to this new asset class.
Banque Delubac & Cie, independent and crypto-friendly
Thanks to our ability to identify opportunities for our corporate, institutional and private customers since our foundation in 1924, we naturally take a pro-digital asset approach.
Cryptocurrencies or digital currencies are terms commonly used in the crypto ecosystem. However, the terminology favored by regulators (ACPR and AMF) is crypto-assets or digital assets. This distinction arises because, although often referred to as cryptocurrencies, these assets do not qualify as currencies in the legal sense. They are virtual resources based on blockchainA blockchain is a type of distributed ledger technology. It is a huge database formed by blocks,cryptographically linked to each other, containing information such as transactions. These blocks are addedfollowing technology, whose value is determined solely by supply and demand.
None of the information contained in this FAQ constitutes investment advice, tax advice, legal advice, or any other type of advice, nor does it serve as an invitation to engage in any form of financial transaction.
Investing in digital assets carries risks and may not be suitable for all investors. It is the responsibility of investors to educate themselves about the risks associated with different digital assets. In particular, it is noted that digital assets can exhibit significant volatilityPrice variation of an asset on a given period., and investments in digital assets involve a risk of capital loss. Accordingly, it is important to remember that the past performance of digital assets, as might be indicated on Banque Delubac & Cie’s website or in documents provided to investors, is not indicative of future performance. Investors should familiarize themselves with the technologies underlying each digital asset and their associated risks, including vulnerabilities, defects, hacks, errors, protocol failures, or attacks on the protocol. Banque Delubac & Cie cannot be held liable for any misunderstanding of the risks associated with digital assets or for any losses investors may incur due to errors in walletPrice variation of an asset on a given period. addresses attributable to the investor.
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