Online banking and group Swissquote is launching a crypto custody service later this month.
The Switzerland-based firm Friday that, starting March 21, retail and institutional will be able to transfer from external wallets to be stored in a Swissquote account.
Swissquote has partnered with Zug-based Crypto Storage AG, a subsidiary of Crypto Finance AG, for the new offering.
Crypto Storage AG offers a proprietary solution for managing private keys using “highest grade hardware security modules” (HSMs), according to information on its .
“Our HSMs are the same as those built for the Swiss National Bank [the country’s central bank] and that nothing is outsourced or could allow for a backdoor to be built in,” Crypto Storage CEO Stijn Vander Straeten told CoinDesk.
He added:
“Our server racks are stored in a former military bunker in the Swiss Alps which is nuke proof. So, yes, we care about security.”
Swissquote already offers services, having () in partnership with Bitstamp back in July 2017. It for cash (BCH), ether (ETH), (LTC) and XRP later the same year.
In November 2017, the firm also a exchange-traded certificate that moves investors’ holdings between and U.S. dollars with the help of a machine learning algorithm, aimed at curbing the ’s volatility.
In early 2018, Swissquote a multi- certificate on the SIX Swiss Exchange, offering exposure to , cash, ether and . The bank has also been listed on SIX since 2000.
image via Shutterstock
Published at Fri, 08 Mar 2019 14:12:15 +0000