The multi-billion dollar Swiss Bank, Vontobel posted on its website about a solution for crypto assets custody for the banks and managers dealing in cryptocurrencies.
Vontobel is a Switzerland based investment bank which offers wealth and asset management for private clients and institutional investors, as well as investment banking. The bank is known to be the third largest custody provider in Switzerland with approximately $112.2 billion worth assets being analyzed in its Asset Management tool.
The well established private investment bank has introduced a new solution for the custody of digital assets named as, Digital Asset Vault. The newly designed tool offers Vontobel’s customers a wide range of cryptocurrency related services, primarily the purchase, transfer and storage of digital assets.
Vontobel proudly presents itself as the first ever bank in the world that has been able to match the standards set by the financial industry authorities as well as the financial intermediaries such as banks, etc.
The tool designed by the investment bank provides benefits to its consumers due to the variety of services it accommodates. This new tool is set in conformity with the standards laid down by the financial regulators and financial institutions which gives consumers a sense of security. The Head of Vontobel Investment Banking, Roger Studer said:
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.
Mr. Studer has explained how the organization’s experience and expertise in the field has helped it design a tool that falls on the criteria required by the industry regulators which makes it the earliest crypto custody provider in the world. The investment bank incorporated the digital assets into its own banking infrastructure which has become a state-of-the-art trading infrastructure due to its continuous investments in businesses. Vontobel also “supplies MiFID II-compliant services to over 100 banks and wealth managers, resulting in 12 million securities transactions per year” which shows the private bank’s reach in the financial market.
The investment bank took progressive steps towards the safety of the digital assets of its consumers by integrating the Hardware Security Module (HSM) in its own banking processes. Consumers have become conscious in the financial market now as increasing rate of fraudulent activities has left its mark on the industry. Thus, consumers need assurance that their wallets will be protected and no harm will be caused to their accounts and this is what most organizations are working on now in order to gain consumer’s confidence.
Vontobel has always been a customer oriented organization which is the major reason behind its success over the years. The investment bank actively lends its clients cryptocurrency investments making it’s Bitcoin certificate the most traded product in the world in the year 2016 on Europe’s largest stock exchange, SIX Swiss Exchange. Vontobel has made itself quite prominent in the world of trade due to its unconventional processing, introducing new concepts and products that differentiate the investment bank from the typical sorts.
Thus, the private bank posted on its website about how clients can have a protected network with the bank for the required details of the purchase, transfer and storage of digital assets, writing:
Through a simple connection, wealth managers in Switzerland, banks and asset managers can now provide their clients with an end-to-end service offering for digital assets with Vontobel’s new solution ‘Digital Asset Vault’. As a result, clients can issue instructions for the purchase, custody and transfer of digital assets easily and securely within the banking infrastructure – like with traditional asset classes.
So, the Swiss Bank’s new solution for activities related to the digital assets looks like a reliable and durable one as it is based on protecting the rights of the clients and providing them with the most and the best services possible. The implementation of solution for the custody of crypto assets proposed by Vontobel will be no surprise as the credibility of the investment bank speaks for itself considering its unstoppable growth.