Swiss Bank to Unveil Crypto Custodial Service

Vontobel is the 3rd largest financial and custodial service in the country
14 January 2019   341

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.

South Koreans to Invest in Crypto Actively

In addition to the investment amounts, the share of those interested in investing in digital assets also increased
22 April 2019   84

The average amount of investments in cryptocurrency from South Korean invesetprs is $ 6,100, which is 64% more than last year, Cointelegraph reports.

According to a survey conducted by the Korean Fund for the Protection of Portfolio Investors, in addition to the investment amounts, the percentage of those interested in investing in digital assets also increased. Thus, 7.4% of the 2500 respondents have already acquired cryptocurrency (last year there were 6.4% of those). It is noteworthy that this figure has increased, despite several major break-ins of the South Korean crypto exchange, as well as tougher regulation of the industry.

Analysts connect the market with a recent bitcoin price jump and hope for a new bull rally.

Recall recently it became known that 94% of trust capital funds invest in cryptocurrency.