Cryptocurrency exchange Bitfinex has an account with ING

An ING spokesman confirmed in an email that Bitfinex has an account in the Netherlands but would not provide details on the amount held or whether ING also provides banking services for other Bitfinex-related companies, according to Reuters. Thus, the bank, which is actively experimenting with distributed ledger technology, has expressed its willingness to serve “companies that are in the value chain of cryptocurrencies.”

However, Bitfinex, whose parent company iFinex is incorporated in the British Virgin Isles and which has offices in Taiwan, could not be reached for comment, the online publication continues. Currently, Bitcfinex is considered one of the largest exchanges for trading in cryptocurrencies.