Expobank in the Czech Republic to Offers Traditional Banking to Neo Crypto Clients

By Steven Anderson October 27, 2018 Off

Traditional financial features are combined in the online services offered in a commercial bank in the Czech Republic for their cryptocurrency users.

Expobank CZ has to say that by making use of this feature, their customers will be able to trade in cryptocurrencies.  They will be able to invest in startups and as well buy precious metals by making use of their traditional facility linked cryptocurrency accounts. Thus those who are having cryptocurrencies can comfortably participate in crowdfunding.

Expobank CZ is the first kind of bank in Europe that provides their account holders with the opportunity to make crypto-related transactions while at the same time providing traditional banking services for their customers.

This service is named Neo.  It is available in Expobanking, which is the online platform of the bank.  This platform provides with complete control over the financial activities of their customers. The financial activities as well include those transactions that are performed for cryptocurrencies.

Of note, Expobank has recently signed up for a partnership with two companies in the crypto-sector.  This they have done to facilitate cryptocurrency related services.

The agreement with the WBTCB permits the customers of the bank to invest and transact in BTC.

The press release that has been talked of by the Czech media states that the customers of the bank will not be able to create a unique cryptocurrency wallet. The details of the highest transactions possible will be made available to the account holders who have a verified profile.

The clients of Expobank will be able to avail newer investment opportunities in the growing crypto industry.

Fundlift is the largest of the crowdfunding platforms in the Czech Republic.  Investors will be able to support fundraising for startup businesses by taking part in the initial coin offerings and as well by buying shares in the established companies.

Those who hold the Neo account can as well invest in precious metals.  Expobank has signed an agreement with Czech Mint who produce ingots, gold and silver coins. Purchasing gold and silver in the Czech Republic are tax exempt.  The users of Neo will have access to Insurance services from Allianz.  The clients will be able to purchase business trips from their accounts.

The Czech Republic has forever been a crypto-friendly designation.  The capital of Czech was named as one of the top cities where one can spend their digital coins.  There are more than 150 avenues in Prague who accept cryptocurrencies.  This is inclusive of hotels, restaurants and tourist attractions.