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).
According to a report from Coindesk claiming entry to a leaked inside communication, high-net-worth people of Santander Private Banking International 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.
While Santander’s rollout of the brand new crypto trading companies will reportedly begin with BTC and ETH solely, the banking big will introduce different cryptocurrencies following the clearance of its screening standards.
According to the report, Santander launched BTC and ETH trading companies upon request from shoppers by relationship managers. The financial institution will maintain the personal cryptographic keys of the tradable belongings in a regulated custody mannequin.
Related: DZ Bank, third-largest German bank, to start crypto custody for institutional investors
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 belongings and “further digital asset services” sooner or later.
“This highlights our ongoing commitment to applying the latest technologies and innovations, and it forms the foundation for supporting our customers in the areas of digital assets,” acknowledged Jörg Oliveri del Castillo-Schulz, chief working officer of Commerzbank.
The financial institution initially plans to ascertain a platform that’s each “secure and reliable” and totally complies with native rules.
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