June 18, 2024

ING Bank plans to work with cryptocurrencies

ING Bank plans to work with cryptocurrencies

The Dutch financial conglomerate ING is developing a technical solution for the safe storage of cryptocurrency assets of its customers.

According to Reuters, the project is still at an early stage of development, and the team from the bank’s Amsterdam division is most likely involved in its creation.

ING representatives told reporters thatconsider working with digital assets and tokens a promising area of ​​activity, and also pay special attention to developments related to blockchain technology in order to provide theircustomers access to this sector.

In addition, the bank cooperates with the blockchain consortium R3 and, together with it, is already developing a solution for trade financing based on a distributed registry.

If ING begins to provide services related to the storage of cryptocurrencies, then it will become one of the few large traditional financial institutions working in this field.

These include cryptocurrencya division of Fidelity Investments, which already provides custody services for digital assets and plans to launch an exchange, as well as the Bakkt trading platform launched by Intercontinental Exchange.