Altcoin News: Arab Bank Switzerland Launches BTC and ETH Trading and Storage Services
September 20, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
The Swiss subsidiary of Arab Bank, a banking giant in the Middle East, is starting to provide trade and storage services for BTC and ETH.
Thanks to this initiative, large-capital clients serviced by Arab Bank Switzerland, including business leaders and family entrepreneurs, can now access digital assets.
“We firmly believe that blockchain will disrupt the financial industry as we know it and we intend to be amongst the first banks to offer digital asset services to our clients in a secure and regulated environment,” said Arab Bank Switzerland CEO, Serge Robin.
Regarding custodial services, the bank has partnered with Taurus Group, which has integrated its cold storage solution called TAURUS-PROTECT with the bank’s infrastructure. Taurus notes that the solution uses the Federal Information Processing Standard (FIPS) 140–2, Certified Equipment Security Modules (HSM) Level 3, and “some of the safest hardware in the world”
“We have now a fully compliant and scalable infrastructure that we will use to provide institutional-grade digital assets services to our clients in complement to our traditional wealth management, asset management and credit solutions,” said Rani Jabban, a member of the executive committee at Arab Bank Switzerland.
In February this year, the Swiss bank Julius Baer and SEBA, with the participation of the cryptocurrency company SEBA Crypto AG, began offering digital asset management services.
Author: Marko Vidrih
