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[Balint098]

Mason Privatbank Liechtenstein AG is a private-owned bank based in the country of Liechtenstein, Europe. The bank has wealthy clients interested in cryptocurrencies investments. To serve their needs, the bank has partnered with Hong Kong-based digital asset custody platform called Hex Trust. Since the bank's clients are more interested in holding their cryptocurrencies, instead of actively trading them, the bank has opted for the least invasive integration of Hex Trust's system.

 

[SCAMEXPOSER]

Mason Privatbank Liechtenstein AG is a private-owned bank based in the country of Liechtenstein, Europe. The bank has wealthy clients interested in cryptocurrencies investments. To serve their needs, the bank has partnered with Hong Kong-based digital asset custody platform called Hex Trust. Since the bank's clients are more interested in holding their cryptocurrencies, instead of actively trading them, the bank has opted for the least invasive integration of Hex Trust's system.

That's great but how will the bank function in this scenario if their subscribers dont need to trade does it mean the bank will do that on their behalf of what?

 

[Balint098]

That's great but how will the bank function in this scenario if their subscribers dont need to trade does it mean the bank will do that on their behalf of what?

Hex Trust handles the crypto holding, that's why the bank partnered with them. Also, they're no subscribers, they're highball investors who invest thousands of dollar into crypto.

 

[SCAMEXPOSER]

Hex Trust handles the crypto holding, that's why the bank partnered with them. Also, they're no subscribers, they're highball investors who invest thousands of dollar into crypto.

If I get the gist right, the bank will be releasing the funds of her interested clients to the Hex trust to buy hold and trade Crypto currencies on their behalf while they take their commission, the banks takes their and clients too making it a tripartite .

 

[Balint098]

If I get the gist right, the bank will be releasing the funds of her interested clients to the Hex trust to buy hold and trade Crypto currencies on their behalf while they take their commission, the banks takes their and clients too making it a tripartite .

It's a little bit more complicated than that but basically Hex trust will manage the bank's clients money by holding/staking the crypto they interested in investing.

 

[SCAMEXPOSER]

It's a little bit more complicated than that but basically Hex trust will manage the bank's clients money by holding/staking the crypto they interested in investing.

This is better and this is the way I see that banks may use to key into Crypto currencies if the usage later supercede that of Fiat currencies in the near future.

 

[Balint098]

if the usage later supercede that of Fiat currencies in the near future.

That won't ever happen. National currency of each country is more than just money, it's also a national identity. Government dislike crypto because it's harder to trace.

 

[Coolvibez]

This is better and this is the way I see that banks may use to key into Crypto currencies if the usage later supercede that of Fiat currencies in the near future.

Am not sure if its going to because in times of inflation and deflation the government can take control .but crypto is much more harder to control and it have anonymity

 

[SCAMEXPOSER]

Am not sure if its going to because in times of inflation and deflation the government can take control .but crypto is much more harder to control and it have anonymity

Government has little to nothing to do here, it is the wish of the clients to invest their money and they are fully aware of the vulnerable nature of Bitcoin, the bank and Hex trust only help in managing their investment.

 

[Balint098]

I think Coolvibez here meant that government can control a currency inflation/deflation rate, but they can't do the same with cryptocurrency since they have no control over it.

 

[Coolvibez]

Government has little to nothing to do here, it is the wish of the clients to invest their money and they are fully aware of the vulnerable nature of Bitcoin, the bank and Hex trust only help in managing their investment.

This is what i mean to say when you said earlier on that "bank may use to key into Crypto currencies if the usage later supercede that of Fiat currencies in the near future"
The use of cryptocurrency by banks can't supercedes flat currency useage, because financial institutions are been regulated by the government .in order for the government to control inflation and deflation it won't work .
Mainly because cryptocurrency has more anonymity .

 

[SCAMEXPOSER]

Well, if banks and Crypto currencies exchangers work differently it will be the best but if banks must begin crytpo currencies and government will regulate it , I don't think it will be possible.

 

[Coolvibez]

Well, if banks and Crypto currencies exchangers work differently it will be the best but if banks must begin crytpo currencies and government will regulate it , I don't think it will be possible.

Instead of coming out as banks they could come in form of private investment crypto company ,i think government might not pay much attention in it ,and they could stand on their own and run their process without interfering in bank duties.

 

[Balint098]

i think government might not pay much attention in it

Bank or not, governments of the world will still try to monitor it, since criminals love to use crypto and there's a huge amount of money involved here.

 

[Coolvibez]

Bank or not, governments of the world will still try to monitor it, since criminals love to use crypto and there's a huge amount of money involved here.

The attention i meant there was "regulating inflation and deflation of their currency" not scamming or any other thing,because when a business is not monitored by the government it might scam its users

 

[SCAMEXPOSER]

Instead of coming out as banks they could come in form of private investment crypto company ,i think government might not pay much attention in it ,and they could stand on their own and run their process without interfering in bank duties.

You have a strong point and it is very possible that some banks are already doing this as separate crypto investment company already as banks loves to make money at all good cost.

 

[Balint098]

You have a strong point and it is very possible that some banks are already doing this as separate crypto investment company already as banks loves to make money at all good cost.

This bank is not the first that accept crypto as a form of digital investment, but I heard the first bank that did that failed to do so, I fogot the bank's name though.

 

[Wisdom01]

think its a good thing to hear that banks are already involving(use of digital currency is evolving) into crypto investment ,hope they are under the government regulations because of any outcome.