The worldwide arm of Spanish lender Banco Santander has reportedly rolled out a brand new service, permitting shoppers with Swiss accounts to put money into and commerce Bitcoin (BTC) and Ether (ETH).
In keeping with a report from Coindesk claiming entry to a leaked inside communication, high-net-worth people of Santander Non-public Banking Worldwide may have entry to commerce BTC and ETH. Cointelegraph couldn’t independently confirm the event as Santander didn’t instantly reply to requests for feedback on the time of writing.
Whereas Santander’s rollout of the brand new crypto buying and selling providers will reportedly begin off with BTC and ETH solely, the banking large will introduce different cryptocurrencies following the clearance of its screening standards.
In keeping with the report, Santander launched the BTC and ETH buying and selling providers upon request from shoppers by means of relationship managers. The financial institution will maintain the non-public cryptographic keys of the tradable property in a regulated custody mannequin.
Associated: DZ Financial institution, third-largest German financial institution, to begin crypto custody for institutional traders
Commerzbank not too long ago turned the primary “full-service” German financial institution to be granted a crypto custody license within the nation underneath the authorized framework of the German Banking Act.
The license permits the financial institution to supply custody of crypto property and “additional digital asset providers” sooner or later.
“This highlights our ongoing dedication to making use of the newest applied sciences and improvements, and it types the muse for supporting our clients within the areas of digital property,” acknowledged Jörg Oliveri del Castillo-Schulz, chief working officer of Commerzbank.
The financial institution initially plans to determine a platform that’s each “safe and dependable” and totally complies with native laws.
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