The Swiss arm of the Russian bank is working with fintech company Avaloq and Swiss startup Metaco to launch a cryptocurrency service in the middle of next year.
According to a statement published by the company, the new service will be based in the Swiss division of Gazprombank (Switzerland) Ltd in mid-2019. The new project plans to implement the development and launch of a service for storing and managing institutional-grade crypto assets.
The project will use SILO, a product developed by the technology company Blockchain Metaco for secure storage of digital assets and cryptocurrency transactions.
Integration of the banking package with SILO is designed to create a fairly extensive, but at the same time simple and convenient platform for managing crypto assets.
According to a statement released by the three companies involved, when the system comes online next year, Gazprombank will be able to manage a cryptocurrency investment portfolio on behalf of clients, without the need for a crypto wallet or private key.
You May Also Like
Swiss bank turns to crypto companies
The first Swiss bank is ready to provide the opportunity to open an account for companies working with cryptocurrency.
Crypto exchanges are damaging banking
According to sources, cryptocurrency exchanger London Block Exchange has opened a bank account with British startup ClearBank, which will allow their users to trade cryptocurrencies without transferring funds abroad.
