AS LHV : LHV is the first bank in Estonia to offer its clients the opportunity to trade in crypto assets


Starting from next week, you will be able to trade major crypto assets such as Bitcoin, Ethereum or Chainlink on the LHV mobile app.

LHV is opening up the possibility for its clients to trade crypto assets around the clock in the mobile app via Bitstamp, one of the world’s largest licensed crypto exchanges. The acquired crypto assets can be seen and managed alongside your other investments. It provides convenient access to a popular and rapidly growing asset class, and gives clients a comprehensive overview of their portfolio. In addition, LHV’s new solution offers pre-filled tax forms to private persons, for the fast and correct declaration of crypto transactions.

‘LHV has been a pioneer in the banking sector in terms of innovative solutions. We have been interested in blockchain technology for a long time – already in 2015, we experimented with one of the world’s first stablecoin-like solutions, the LHV Cuber platform. In the meantime, we have been waiting for the regulatory environment to evolve, for the market to become organised, and for professional market players to emerge. By today, crypto assets have become a large field in terms of both market value as well as turnovers based on decentralised financial services. We believe that the strengths of blockchain-based solutions in terms of speed, efficiency and security are increasingly being demonstrated. We will be the first bank in the Baltics to start offering crypto trading to our clients – as the first step, they will be able to buy and sell crypto assets on the LHV mobile app,’ said Madis Toomsalu, Chairman of the Management Board of LHV Group.

‘We offer our investment services to support our clients in growing their wealth just the way they want to. This is why we are constantly monitoring developments in the investment world and are aligned with our clients’ interests. Considering the increasingly mature level of development of crypto assets and their rapidly growing popularity as a new asset class, we are ready to add this asset class to the range of products offered to LHV bank clients. This is clearly a very volatile and high-risk asset class, but for a risk-conscious client, crypto assets can play an important role in the portfolio,’ said Martin Mets, Head of Investment Services in Retail Banking, on the new service.

Crypto trading is a major evolution of LHV’s alternative investment product which, until now, has allowed clients to display their crypto, start-up and crowdfunding positions on their own external platforms. Starting from Monday, crypto transactions can be made directly on the LHV mobile app. Initially, customers will be able to buy and sell eight selected major cryptocurrencies at market prices:
• Bitcoin (BTC)
• Ether (ETH)
• Litecoin (LTC)
• Uniswap (UNI)
• Chainlink (LINK)
• Stellar Lumens (XLM)
• Polygon (MATIC)
• Aave (AAVE)

‘In the near future, we plan to add new instruments, order types and other solutions for more convenient trading. In the longer term, we will closely monitor the development of blockchain solutions in the world and, if the right opportunity arises, we are certainly ready to take the next step towards offering blockchain solutions,’ predicted Martin Mets.

LHV offers the service in partnership with the biggest names in the industry. Transactions are carried out on the Bitstamp crypto exchange, which is one of the five largest licensed crypto exchanges in the world. The crypto assets of clients are securely held on the BitGo platform, which is part of the Galaxy Digital Group, a Toronto Stock Exchange-listed company and one of the best-known names in its field.

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As part of the launch of the service, LHV Pank is organising a longer webinar on crypto investing on 19 November for everyone interested. The webinar will take place at 14:00 and can be followed on the LHV YouTube channel or on the LHV Finantsportaal Facebook page. In addition to representatives of LHV, a representative of the investment community Märten Kress, blockchain leaders Sten Tamkivi and Edgar Aronov, and Peeter Luikmel, the Head of Monetary Policy and Foreign Economics Division at Eesti Pank, will also participate in the seminar.

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. LHV employs over 630 people. As at the end of October, LHV’s banking services are used by 310,000 clients, the pension funds managed by LHV have 139,000 active clients, and LHV Kindlustus protects a total of 140,000 clients. LHV’s UK branch offers banking infrastructure to 180 international financial services companies, via which LHV’s payment services reach clients around the world.

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