Gazprombank (Switzerland) Ltd. recently announced that it has been successful in getting authorization from the Swiss Financial Market Supervisory Authority (FINMA) to deliver digital asset services.
It is to be noted that the Zurich-based bank is exclusively owned by Russian Gazprombank. As per the bank’s website, the parent company is the 3rd biggest bank in Russia as well as the 3rd biggest in Central and Eastern Europe in terms of equity.
Notably, Gazprombank (Switzerland) is a fully licensed Swiss financial institution. It provides conventional banking products and services to its corporate and established clienteles.
With the latest consent from the authorities, the bank will start offering its customers the service of digital asset custody along with facilitating trading between virtual currencies and fiat currencies. The bank mentioned that primarily it will offer the aforementioned services to a restricted number of carefully chosen customers.
Specifying the benefits of the new digital asset offering, the announcement mentions,
“The clients get access to cryptocurrency liquidity, while the safekeeping of the cryptocurrencies is taken care of by a Swiss regulated bank. Additionally, the counterparty risk is limited.”
The bank assumes virtual assets to become more and more significant in the worldwide economy and, specifically, for their present and likely customers.
The Future is Now Media Group have launched a YouTube show called The Future is Now Digest, hosted by Miguel Francis-Santiago. Together […]
April 30, 2020
PRESS RELEASE — 10,000 participants are expected to join CHAIN2020 in Hong Kong on January 15, which aims to become one of […]
December 27, 2019
Policymakers in Kentucky are looking to levy tax breaks for local virtual asset miners. On Tuesday, Kentucky officials permitted more than a […]
March 5, 2021
The well-known investor picks out Netflix among key corporations as the most expected to put BTC on its balance sheet. Billionaire Tim […]
March 5, 2021