Custody: How Crypto Assets Can Be Kept in Banks ?

Hypothekarbank Lenzburg, a Swiss bank, opened the door to crypto and blockchain firms in June of this year.

Vontobel, Swiss private bank, together with Falcon, stands among the lenders that are agreeing to handle cryptocurrency-based investments on behalf of their clients.

Maerki Baumann private bank in Zurich is open to accepting assets that were generated with cryptocurrencies.

Managing Director Stephan Zwahlen stated:  “under the condition that strict regulatory and legal requirements are fully complied with, open to accepting assets that were generated with cryptocurrencies

Recently Goldman Sachs is considering a plan to offer custody for crypto funds, without citing any solid source.

Japan’s Nomura, Bank of New York Mellon, JP Morgan Chase, and Northern Trust are all reportedly thought to be working on or exploring custody offerings.

Gazprombank Switzerland Ltd., a state-owned Russian bank, and third largest in the country by assets, is also looking into cryptocurrency asset custody service and working with auditors and with Finma, according to sources close to the matter.

This is a market that will develop quickly, according to a former UBS executive and also a former Julius Baer executive in Switzerland.