Lack of access to custodians that institutional investors know and trust is seen as a major hurdle for growing the sector. Thankfully, the demand has caused a flurry of companies to enter the business, with the latest being online bank Swissquote.
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Swissquote to Use Services of Crypto Finance AG
Swissquote, a provider of online financial and trading services from Switzerland, announced its yearly results for 2018 on Friday. The report included an update about an upcoming expansion of the bank’s crypto services. Starting March 21, it will be possible to transfer cryptocurrencies from external wallets to a Swissquote account and vice-versa. “Swissquote will therefore become a secure and technologically fully integrated cryptocurrency trading platform and depositary for private and institutional clients alike,” the company explained.
For the purpose of adding these custodial offerings for digital assets investors, the Swiss bank will use the…