Dutch bank ABN AMRO decided to abandon its plans to launch the custodial storage service of cryptocurrencies, The Next Web reported with reference to the statement of the organization’s representative.
In January, the network reported that 500 clients of ABN AMRO gained access to Wallie cryptocurrency wallets on the basis of banking infrastructure on an experimental basis. It was assumed that cryptocurrency assets in customers' wallets would be insured for up to € 6,000. However, the project hasn't reached the stage of real implementation.
We have approached all the people who have shown interest. We have concluded that cryptocurrencies because of their unregulated nature are at the moment too risky assets for our clients to invest in.
Jarco de Swart
Senior Press Officer, ABN AMRO
Last September, ABN AMRO, among other banks and companies, became a co-founder of a platform for trading commodities on the Ethereum protocol.