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Hypothekarbank Lenzburg CEO Marianne Wildi confirmed that they are first bank in the country to open company accounts for blockchain and crypto-related fintech companies. Wildi said:
“As a bank that sets itself up technologically and pursues a cooperative strategy in the field of fintech, it is also a matter of credibility to work together with the young sector of crypto and blockchain companies in Switzerland”.
Wildi noted that she was aware of “the money laundering problem in the area of crypto companies and Initial Coin Offerings (ICOs)”. The bank reportedly examined the relevant risk and compliance issues “very precisely,” in addition to informing the Swiss Financial Market Supervisory Authority(FINMA) before deciding to cooperate with crypto startups.
According to Wildi, the Hypothekarbank Lenzburg is reportedly very selective in accepting new customers, and recently has taken on only two companies from the crypto industry. Before accepting a new client, the bank performs a rigorous due diligence process.