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Swissquote Bank to provide crypto depository service

admin 3 Mar 14

The bank’s clients will be able to transfer digital money from external wallets to a Swissquote account and vice versa.

Swissquote, specialising in the provision of online financial and trading services, is launching a cryptocurrency custody service starting March 21, when clients could transfer funds from external wallets to their Swissquote account and vice versa.

The bank will also provide a fully integrated trading platform for private and institutional clients alike. Trading digital money at Swissquote has been possible since mid-2017.

The project will be implemented by using services of a Swiss startup, Crypto Storage AG, a subsidiary of Crypto Finance AG, which offers a proprietary infrastructure solution to manage private keys.

Earlier, another Swiss financial institution, Dukascopy Bank, launched its own cryptocurrency. It had airdropped Dukascoin tokens a day before Japanese Mizuho Bank introduced its stablecoin.