The Swiss wing of Russia’s Gazprombank will start offering crypto assets services by mid-2019, according to a press release published by its bank-tech partner Avaloq.
The financial technology firm announced that it would build a fully integrated solution for the management of client portfolios across all asset classes, including cryptocurrencies. Gazprombank will integrate the said solution into its services to cater for clients that are looking to incorporate crypto assets like Bitcoin into their investment services. The whole deal will become another sign of how crypto adoption in Switzerland is moving in the right direction.
Avaloq will not work alone on creating the crypto assets solution. The press release confirmed that the Swiss fintech giant would integrate Silo, a crypto-wallet management and storage product developed by Metaco, in within its Avaloq Banking Suite. Once up, the duo would enable Gazprombank to purchase, transfer and sell crypto assets on behalf of customers. They would also provide a blended view of the portfolio, without any necessity for a crypto-wallet or private keys.