Major Swiss Bank Launches A Crypto Custody Solution Targeting Banks & Asset Managers

A major private investment bank from Switzerland is in the latest crypto news for launching a crypto custody solution that will target banks and asset managers. The Vontobel bank which is based in Zurich is reportedly the largest financial custody provider in Switzerland.

As the official crypto press release notes, the launch of the new digital assets custodian solution named Digital Asset Valut will put Vontobel in the spotlight as the first bank in the world to comply with standards required by both industry regulators as well as financial intermediaries.

Moreover, the new tool will allow the banks and asset managers to offer their clients a number of services related to cryptocurrencies such as purchases, transfers and storage of crypto.

What’s also included in the announcement is that the Digital Asset Vault will operate just as in the traditional assets classes under the rules of the banking infrastructure. As such, its customers will get a consolidated overview of traditional and digital assets and will get to choose an alternative to their previous personal regulations.

This is not the first crypto initiative by Vontobel. Before this, the bank operated as a lender and provided its clients with cryptocurrency investments. In 2017, some sources reported that the Bitcoin (BTC) certificate of the bank was the most traded product on the Europe’s largest stock exchange, the SIX Swiss Exchange.