Zurich-based Vontobel bank is now offering Digital Asset Vault solution to wealth managers, banks and asset managers for custody solution for digital assets such as digital assets purchases, transfers, and storage, according to an official press release published on Jan. 14
Taurus, a Geneva-based startup, is providing Vontobel with the Digital Asset Vault. With the new business solution, the bank has combined the custody of digital products with a solution that is based on Hardware Security Mode(HSM) technology and is integrated into its own banking infrastructure.
Through this initiative, the holding of private keys is no longer required. Clients can buy, sell or transfer digital assets by issuing instructions to their regular bank, with global and the best execution.
In regards to this announcement, Roger Studer, head of Vontobel Investment Banking stated that:
“Digital Asset Vault represents the logical next step in the development of our range of services for digital assets. With our innovative strength and experience, we have thus closed the gap between existing and digital assets. By incorporating digital assets into our own banking infrastructure, we have also become the first provider to already meet the high standards required by financial intermediaries and their regulators.”
Vontobel is the first bank in the world to offer the usual industry standards of quality within the established and regulated environment. Let’s watch how this inspires and impacts the global banking infrastructure to trade the encrypted traditional financial investment products using blockchain.
Vontobel, a Switzerland based bank, provides wealth management, asset management, and investment banking solutions in Switzerland. The company offers financial planning and consulting, investment advisory, investment and structured products, investment funds, estate and tax planning, real estate financing, and Lombard loans, as well as wealth services.
It is the third largest financial custody provider in Switzerland, with 110.3 billion CHF ($112.2 billion) in assets under its actively developing Asset Management tool.
Link to the original article can be found here.
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