Developments

Switzerland Vontobel Bank creates Digital Asset Vault for cryptocurrency community

Switzerland Vontobel Bank has started offering custody services for cryptocurrency community making it the first private Bank globally offering such services.

The executives have welcomed the development urging the crypto community worldwide to utilise the superior services being offered as far as safeguarding their Bitcoins is concerned.

“As far as I know, Vontobel is the only bank globally offering custodian for Digital Assets Vault,” explained Bank’s head Roger Studer to a local press.

Vontobel has been offering kind of cryptocurrencies services since 2016. This new bid will see it increasing its integration.

Switzerland continues positioning itself as a worldwide leader with core values in cryptocurrencies seeing magnitudes Crypto projects of offering superior services to both public and private investors.

Roger further explains that the plan to expand its services reaching Crypto space has been with the bank for the past two years, all necessary measures of best offering the services have been studied giving tight security as far as keeping Digital Assets Vault is concerned.

Apart from Switzerland Vontobel Bank ‘s Crypto custody services, there are multiple other Crypto custody solutions that may see being launched on the market soon by the bank.

Partnership

The move has come in partnering with Taurus; Geneva-based Startup Company which specializes in Cryptocurrency custody and

storage. This will see Vontobel ultimately operating “Digital Asset Vault” a label synonymous with physical bunker with operatives in Switzerland.

Lamine Brahimi, Taurus co-founder says their partnership with Vontobel is of great importance as it sees Swiss financial sector being linked to two worlds – Crypto finance and traditional banking.

Quoted by Swiss local press Finews, Inacta AG IT Consulting Company of the resident country’s Crypto Valley community in Zug city the company became one of the first users of Blockchain technology in December 2018 which saw more direct support for Bitcoin emitting from Swiss financial firms.

This is not the first time for Vontobel to enter into Cryptocurrency space as last year; it started offering regulated Cryptocurrency custody services to institutional executive clients such as banks, crypto assets managers togther with fund managers.

What’s your opinion regarding the plans by Switzerland Vontobel Bank? Let us know by leaving comments in section below!

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coinmag

Hey there! I am Tobias Kumwenda, an IT bank professional turned into a Cryptocurrency and Blockchain proponent from Blantyre, Malawi. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about Cryptonomics and eating if I am not doing anything else.

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