In line with a recent official ‘press release‘, major private investment bank in Switzerland named ‘Vontobel’ has launched a crypto custody solution targeting banks and asset managers.
Vontobel bank is reportedly the third largest monetary custody supplier in Switzerland, with 110.3 Bln CHF (around $112.2 Bln) in assets below its actively developing Asset Management tool, per the company’s ‘financial report‘ published in 2017.
With the launch of the new digital assets protector solutions named Digital Asset Vault, the Vontobel bank claims to be the first bank within the world to befits standards needed by both business regulators and monetary intermediaries.
The new tool permits banks and asset managers to provide their consumers variety of crypto-related services together with digital assets purchases, transfers and storage.
In line with the announcement, Vontobel’s Digital Asset Vault operates simply alike the standard assets categories under the management of the banking infrastructure, with customers acquiring an alternative to their previous personal registrations, likewise as a consolidated summary of standard and digital assets.
In order to shield users’ digital assets, Vontobel combined HSM [Hardware Security Module] technology and its own banking infrastructure, the statement says.
As reported by EtherDesk earlier, Vontobel has antecedently emerged as a pro-crypto bank, operational as a loaner to offer its consumers with crypto investments. Earlier in 2017, native sources reported that Vontobel’s Bitcoin [BTC] certificate was the foremost listed product on the Europe’s largest exchange, named SIX Swiss Exchange.
Even in late 2018, Switzerland’s monetary regulator, the Financial Market Supervisory Authority, ‘issued‘ pointers for their FinTech license, with crypto-related businesses and blockchain companies reportedly set to begin applying for the ‘license‘ ranging from 2019.