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Bank From Switzerland Launches Cryptocurrency Storage Service

Vontobel Bank Offers Custody Solution For Cryptocurrencies

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The well-known Swiss investment bank Vontobel offers the crypto assets custody service for financial organizations, the company’s press office reports.

The Vontobel experts assert that financial organizations from Switzerland can offer various services in the crypto sphere on the basis of the Digital Asset Vault product. Clients will be able to buy, keep, and transfer cryptocurrency easily and safely.

To ensure the security of the crypto custody service, Vontobel applied the Hardware Security Module (HSM) technology solution, having implemented it in its infrastructure. The bank states that it became the first financial institution to offer high-quality products, complying with all standards and regulators’ requirements.

Roger Studer, the Vontobel CEO, claimed that the Digital Asset Vault solution follows the logic of the bank’s further development involving the expansion of cryptocurrency services. He added that thanks to its experience and potential, the company managed to reduce the gap between traditional and crypto assets while meeting the serious requirements of regulatory organizations.

The Vontobel bank is considered to be the third largest financial institution in the country offering custodial solutions. According to the data for 2017, the volume of all its assets amounted to over 110 bln Swiss francs (over $120 bln).

As previously reported, the Swiss Financial Market Supervisory Authority has granted permission to the Blockimmo startup for offering tokens in the form of shares.

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