Liechtenstein bank sees 900% web traffic spike after launching crypto services

17 Jun, 2019
by David Robb
Adoption
Liechtenstein bank sees 900% web traffic spike after launching crypto services

A bank in Liechtenstein has surged in popularity recently due to its rollout of crypto-related services. Bank Frick has seen a 900 percent increase in web traffic since the launch.

The tiny European nation of Liechtenstein is one of the continent's more crypto-friendly jurisdictions. Another bank based in the country, Union Service Bank, launched its own stablecoin and security token last year, and the country's national post office is also offering to exchange crypto. Binance also opened a new fiat-crypto exchange in the country back in 2018, as part of its continuing global expansion.

Bank Frick has adopted a welcoming approach towards financial innovation, helped by the regulatory environment in Liechtenstein. Since March 2018, Bank Frick has offered customers the option to purchase crypto directly with fiat currency. It has also developed its own proprietary cold storage custody service for its clients' digital assets. A recent report claimed that these services increased its web traffic by 900 percent. 

According to BeinCrypto, this doesn't necessarily represent a significant increase, as traffic was already so low before. Web traffic on Bank Frick's site peaked at around 1250 visitors in a month recently, compared to just 200 per month before its crypto adoption. However, considering the relative size of the country, the figures do look a little better. 1250 visitors is a notable proportion of Liechtenstein's population of 40,000, and suggests that interest in crypto could grow significantly in the upcoming years.

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