Crypto Custody Solution Introduced By Swiss Investment Bank Vontobel

Announcements, Innovation, News | January 15, 2019 By:

Switzerland-based investment bank Vontobel is now offering a crypto custody solution for financial intermediaries, such as banks, asset managers and wealth managers.

Called Digital Asset Vault, the custody solution enables financial intermediaries to provide their clients with an end-to-end service offering for digital assets. The solution will allow bank customers to issue instructions for the purchase, custody and transfer of cryptocurrencies easily and securely within the banking infrastructure – like with traditional asset classes.

“The Digital Asset Vault is an alternative for personally registering with providers of digital assets and the custody of the same. The holding of private keys is no longer required,” the bank said. “Clients can buy, sell or transfer digital assets by issuing instructions to their regular bank, with global and best execution. A consolidated overview of traditional and digital assets and asset classes is included in the client’s statement of assets, thus providing a clearer list for tax purposes.”

To develop the Digital Asset Vault, Vontobel combined its experience in the custody of digital products with a solution that is based on Hardware Security Mode (HSM) technology. Without any significant investment in their own infrastructure, financial intermediaries will be able to offer their clients an integrated solution for digital assets through a simple connection to Vontobel.

Roger Studer, Head of Vontobel Investment Banking, claims that Vontobel is the first bank in the world to offer the usual industry standards of quality within the established and regulated environment.

“Digital Asset Vault represents the logical next step in the development of our range of services for digital assets,” Studer said. “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.”