Zurich-based Vontobel bank rolls out Digital Asset Vault

Posted 14 January, 2019

Vontobel, Switzerland’s private investment bank with headquarters in Zurich, has come up with a new crypto custody solution aimed at banks and asset managers.

As the company's financial report for 2017 showed, Vontobel became the third largest financial custody provider in Switzerland with CHF 110.3 billion ($112.2 billion) in assets under its Asset Management tool.

The bank claims that its project Digital Asset Vault is the brand-new custodial service in the world. Notably, it was developed in total compliance with the standards of regulators and the requirements of financial intermediaries.

With the new service banks and asset managers will be able to provide clients with various crypto-related services, digital assets purchases, transfers, and storage.

In the release, Vontobel stresses that its Digital Asset Vault operates like the traditional assets classes of the banking infrastructure. Vontobel supplemented its own banking infrastructure with Hardware Security Module (HSM) to ensure the security of users’ assets.

Vontobel positioned itself as a pro-crypto bank. Its Bitcoin (BTC) certificate was reported to be the most traded product on the SIX Swiss Exchange in 2017. 

The company CEO added that the launch of the custody service will confirm further development and evolution of the crypto offers. The combination of crypto and banking services will help the bank to cope with strict and rising requirements of the financial market players.
 

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14 January, 2019 16:31

← Denmark Tax Agency to collect crypto transaction data from local platforms

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Denmark Tax Agency to collect crypto transaction data from local platforms

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