Swiss bank launches service for the custody of cryptocurrencies
Vontobel will launch a cryptocurrency escrow service for banks and asset managers
The financial institution Vontobel located in Zurich will be the third largest bank to offer a service of custody of digital currencies in Switzerland, with approximately 112.2 billion dollars in assets under its tutelage.
With the launch of this new solution for custody of digital assets called Digital Asset Vault, the institution claims to be the first bank in the world to meet both the requirements of industry regulators and those of financial intermediaries.
The new platform will allow managers to offer their clients an important series of services related to cryptocurrencies, including purchase, transfer and storage of digital assets.
The Digital Asset Vault will operate under the same principle as traditional assets in accordance with banking infrastructure rules, in which customers will acquire an alternative to traditional personal records, as well as a consolidated overview of their digital and traditional assets.
Also, to protect the reserves of its users, Vontobel will combine its own banking technology infrastructure with the Hardware Security Module.
L.Sáenz
Source: Coincrispy
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