Norway's Internet-Only Skandiabanken Launches Coinbase Integration

An internet-only bank based in Norway has integrated with digital currency exchange startup Coinbase.

AccessTimeIconMay 15, 2017 at 7:10 p.m. UTC
Updated Sep 11, 2021 at 1:19 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

An internet-only bank based in Norway has integrated with digital currency exchange startup Coinbase.

According to local news service E24, Skandiabanken – a digital bank owned by savings and investments provider Skandia – will let users connect their accounts with a Coinbase one, allowing them to view their cryptocurrency balances and values.

It’s a launch that closely mirrors one launched by US financial services firm USAA (which largely caters to the armed services market) in 2015 to a select group of clients. A year later, USAA rolled it out to all account holders.

In translated statements, representatives for Skandiabanken – claimed to be the largest bank of its kind in the region – said the launch represents a shifting stance toward digital currencies.

"We recognize cryptocurrency as an investment class on an equal footing with other securities," Christoffer Hernæs, the bank’s chief digital officer, told the publication.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.