Vontobel Launches Innovative Crypto Custody Solution for Banks and Asset Managers

Vontobel’s Bold Move into Crypto Custody

On January 14, Zurich-based Vontobel, a major player in the Swiss financial landscape, announced the launch of its new crypto custody solution, the Digital Asset Vault. This move positions them as the first bank globally to meet stringent industry compliance standards, ensuring that banks and asset managers can securely handle digital assets.

Switzerland’s Financial Custody Heavyweight

As the third largest financial custody provider in Switzerland, Vontobel oversees a staggering 110.3 billion CHF (approximately $112.2 billion) in assets. Established in 2017, the bank has evolved its Asset Management services to include cutting-edge financial technologies, and now, crypto is part of their portfolio.

Digital Asset Vault: Features and Benefits

The Digital Asset Vault comes packed with features designed to simplify the management of cryptocurrencies. Banks and asset managers can now offer services such as:

• Purchasing digital assets
• Secure transfers
• Robust storage solutions

This tool provides users a comprehensive overview of both traditional and digital assets, streamlining their financial management.

Protecting Assets with Advanced Technology

To ensure the safety of clients’ digital assets, Vontobel employs a combination of Hardware Security Module (HSM) technology with its established banking framework. This innovative approach not only secures the assets but also guarantees clients a trustworthy experience.

A History of Crypto Innovation

Vontobel isn’t new to the cryptocurrency space. Positioned as a pro-crypto bank, it previously served as a lender, enabling clients to invest in cryptocurrency products. Notably, their Bitcoin (BTC) certificate was the most traded offering on Europe’s largest stock exchange, the SIX Swiss Exchange, in 2017.

Regulatory Framework and Future Outlook

Switzerland has long been a pioneer in crypto regulation, with the Financial Market Supervisory Authority introducing guidelines for fintech licenses in late 2018. This was a game-changer for crypto businesses, paving the way for future innovations in financial technology.