September 19, 2020

Swiss bank Basler Kantonalbank will start working with cryptocurrency

From 2021, the company will provide clients with the opportunity to store and trade digital assets through their subsidiary this is the first such case in the country.

From 2021, the Swiss bank Basler Kantonalbank will start providing services on cryptocurrency trading and its storage through the subsidiary structure of Bank Cler.This is the first time that a Swiss government-backed company has exited the digital asset market, reportsFinews with reference to the local edition.

Bank Cler spokeswoman Natalie Valtmann said the parent company also plans toBut first, bitcoin and other digital money should be tested in Bank Cler, where the center is competencies.

On July 22, U.S. National Banks received approval to store cryptographic keysThe relevant permission was issued by the Office of the Comptroller of the Monetary Administration (OCC) as part of the U.S. Treasury Department.The agency's letter states that banks can provide safer castodial solutions than existing supply on the market.