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Estonia's largest bank allows its clients crypto transactions

Estonia's largest bank allows its clients crypto transactions

Even with the reluctance of the Estonian government to officially legalize bitcoin in the country and the local regulators' actions to review the licenses of virtual asset service providers (VASPs), Estonia's banking sector is showing loyalty to cryptocurrencies.  

Estonia's largest bank LHV will allow its clients to make cryptocurrency transactions starting from December 2021. The bank's clients will get an opportunity to buy and sell crypto assets using LHV bank mobile app. Initially, transactions will only be available with such assets as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Uniswap (UNI), Chainlink (LINK), Stellar Lumens (XLM), Polygon (MATIC), and Aave (AAVE). Still, the bank plans further expansion of the list of available assets and trading pairs.

Thus, LHV Bank followed the example of Commonwealth Bank, Australia's largest bank, which also has recently announced its plans to authorize transactions in Bitcoin and Ethereum. At this point, it doesn't matter that the entire Estonian population is smaller than the customer base of the Australian bank. An important signal is that more and more countries open access to virtual asset markets to individuals and promote crypto mass adoption. Banks in all advanced countries will sooner or later be forced to do the same if they care about their clients.

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