LHV Bank collaborates with Coinfloor

Making further move into the digital currency ecosystem, Estonian Bank LHV has entered into a partnership with UK-based exchange Coinfloor to handle user deposits.

The bank has been gradually increasing its involvement in bitcoin, having signed a deal with Coinbase in September to expand its bitcoin buying and selling services to 13 European countries.

"Services based on blockchain have the potential to change the world. We are very glad to start working with the Coinfloor team and helping them with reliable financial services in exploring this potential", said Andres Kitter, head of retail at LHV Bank. "Coinfloor is a strong partner that takes compliance very seriously and for us as a bank this is very important".

The bank had earlier announced a project that aimed to explore the legal framework and potential applications of blockchain technology in the banking sector.