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Sweden’s Largest Online Stockbroker Avanza Bank Adds Bitcoin Services

Sweden’s Largest Online Stockbroker Avanza Bank Adds Bitcoin Services

This week, Avanza Bank, Sweden’s largest online stockbroker with over 600,000 customers is now providing clients with the ability to track bitcoin and other digital assets using their account interface.

Also read: A Few Chinese Bitcoin Exchanges Bid Farewell to the Crypto-Community

Avanza Bank Offers Bitcoin Price Tracking — Says More Customers Are Investing In Cryptocurrencies

Sweden’s Largest Online Stockbroker Avanza Bank Adds Bitcoin ServicesThe Swedish firm Avanza Bank Holdings founded in 1999 is a well-known financial establishment in the region. The brokerage service participates in the largest number of trades that take place on the Stockholm Stock Exchange. This week the financial institution announced it would provide a feature that allows a complete picture of their customer’s portfolio; including bitcoin investments. According to the bank’s press release, Avanza customers will be able to view both bitcoin and ethereum holdings.  

“More and more of our customers are investing in cryptocurrencies, and therefore it is natural that they can follow the value directly with us,” explains the stockbroker’s CEO Johan Prom.

Claes Hemberg Avanza Bank’s Savings Economist Details The Bank Did Not Ask for His Opinion

Sweden’s Largest Online Stockbroker Avanza Bank Adds Bitcoin Services
Avanza Bank’s savings economist, Claes Hemberg doesn’t like bitcoin.

Even though the bank is moving towards cryptocurrency services, the bank’s own savings economist, Claes Hemberg, has been very outspoken against bitcoin in the past. Hemberg is “concerned” for retail investors and believes that bitcoin is a pyramid scheme. “Instead, I look forward to the possibility that the Swedish Riksbank will offer a first serious alternative – the e-krona – within 1-2 years,” explains Hemberg this past August. Hemberg has also said that he believes bitcoin is no different than the MLM scheme Onecoin.

Hemberg isn’t bothered by Avanza choosing to look at bitcoin more closely, but also says they didn’t ask him about the decision. “Avanza is developing products that they think are good, while I say what I consider to be good for the savers,” Hemberg explains to the press.

Avanza Joins Other Mainstream Banks Worldwide Offering Bitcoin Services This Year

Avanza Bank Holdings joins a slew of other mainstream financial institutions offering bitcoin services like the U.S. firm’s Fidelity and USAA, the Slovenian bank Hranilnica Lon, and Norway’s largest internet-based bank Skandiabanken. Sweden’s Avanza brokerage group also offers customers the ability to purchase bitcoin using a voucher system.

What do you think about Avanza Bank Holdings providing customers with bitcoin and ethereum price tracking tools? Let us know what you the online stockbroker offering bitcoin tracking in the comments below.

Images via Shutterstock, Avanza Bank, and the Avanza blog.

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Tags in this story
Avanza Bank, Bitcoin, Bitcoin Tracking, Claes Hemberg, e-krona, Ethereum, Investments, Investors, Johan Prom, N-Economy, Onecoin, Savings Economist, Stockholm Stock Exchange, Sweden
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Jamie Redman

Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today.