Gazprombank (Switzerland) Ltd now offers the safe custody of cryptocurrencies as well as trading between crypto and fiat currencies to its corporate and institutional clients. Following a stringent evaluation process, the Bank will initially provide these services to a limited number of selected clients.
The new services will include institutional-grade storage solutions and the purchase and sale of Bitcoin. Gazprombank plans to gradually expand the offering to include additional cryptocurrencies and other products and services.
The new crypto offering has major advantages for the clients of Gazprombank: The clients get access to cryptocurrency liquidity, while the safekeeping of the cryptocurrencies is taken care of by the Swiss regulated bank. Furthermore, the counterparty risk is limited.
“We expect digital assets to become increasingly important in the global economy and, in particular, for our current and potential clientele. Being committed to continuous financial innovation, we strive to offer our clients advanced banking services at the highest level of quality. Our blockchain solution provides uncompromising security as well as ease of use. We are very pleased to be able to offer these services to our clients after years of professional development using top industry know-how. The authorization by the Swiss regulator FINMA marks a very important milestone for Gazprombank”, explains CEO Roman Abdulin.