VersaBank Launches Blockchain Vault for Cryptocurrency

VersaBank aims to design a blockchain based digital deposit box, so customers will be able privately store their digital valuables, including cryptocurrencies
25 January 2018   864

VersaBank, a Canadian chartered bank, announced on Tuesday that it is developing a blockchain based vault initiative to securely store digital property and has hired Gurpreet Sahota as Chief Architect of Cyber Security.

Bitcoin and other cryptocurrencies are quickly gaining popularity and holders have already experienced their valuable holdings vanish from the less secure ‘digital storage’ options. Banks have always been known as the safest place to store physical valuables and it is our aim to make VersaVault the safest place to secure your digital valuables, with absolute privacy.

 

David Taylor

President & CEO, VersaBank

Gurpreet Sahota has extensive experience in cyber security and is a global leader in this field, the company said. Gurpreet will also head up a team made up of software engineers, experienced in both the development and integrity of cyber security solutions, to design a blockchain based digital deposit box, called VersaVault, so customers will be able privately store their digital valuables, including cryptocurrencies.

The company added that the VersaVault will be available to customers globally.

Japanese 'Money Forward' to Launch Crypto Exchange

Money Forward Financial is going to launch a media crypto platform this summer, and afterwards - a digital assets exchange
24 May 2018   63

The operator of the popular application for personal finance management Money Forward Inc intends to launch a cryptocurrency exchange this year, BC Focus reports.

Japanese fintech-company has been working in this direction since December last year. To implement the plans, the company has already registered a subsidiary division called Money Forward Financial.

Money Forward Financial is going to launch a media cryptocurrency platform, and afterwards - a digital assets exchange. In the future, the company plans to create a number of more advanced solutions for working with crypto-currencies, including automated payment systems and various analytical tools.

Currently, the customer base of the company has about 5 million users. The cloud application of Money Forward Inc for tax accounting and financial management is used by 500,000 Japanese companies and 2,400 accounting firms.

Big Japanese financial institutions are making steps to cryptocurrency business. Mitsubishi UFJ Financial Group (MUFG), world's 5th biggest bank has announced plans to introduce own cryptocurrency by 2019.