A large Swiss private bank Vontobel launched a crypto custodial solution focused on banks and asset managers, according to a January 14 press release.
Vontobel is the third largest financial and custodial service in Switzerland, with $ 112.2 billion in storage, and is developing a toolkit for asset management.
The bank claims that its new solution called “Digital Asset Vault” is the first custodial service of its kind in the world, which fully meets not only the standards of regulators, but also the requirements of financial intermediaries.
Thanks to the solution presented, banks and asset managers will be able to offer their customers a series of cryptocurrency-oriented services, including their purchase, transfer and storage.
According to the announcement, Vontobel Digital Asset Storage replicates the principles of custodial solutions for traditional asset classes in banking infrastructure. To protect its customers' funds when investing in digital currencies, Vontobel has implemented a hardware security module (HSM) in its own infrastructure.
Vontobel managed to establish itself as a financial institution with a friendly attitude towards new market instruments. In July 2017, his Bitcoin certificates became the most traded product on the SIX Stock Exchange.