Gazprombank Announces Launch Of Cryptocurrency Custody Service By Mid-2019

One of the investment division of Russian major Gazprom Gazprombank is collaborating with Avaloq and Metaco to offer cryptocurrency asset safekeeping services for official customers by 2019. As per a report published in an official press release of the company dated December 06, 2018, METACO spoke that the planned choice is a portion of a combined determination that has been going on for a long time. They are also self-assured that this facility will begin functioning in the second quarter of 2019

Fintech leader Avaloq and crypto-asset custody infrastructure specialist METACO have arrived into a novelty collaboration with a Swiss bank named as Gazprombank Ltd, to make a combined cryptocurrency asset solution. This creation invention purposes to offer wealth and banks executives with a completely combined answer for the organization of customer collections across every asset classes such as cryptocurrencies. Gazprombank is by now an Avaloq customer that aims to provide a crypto service to its customers by the end of June next year.

The business of Retail is a deliberately significant activity of the Bank, and its gage is reliably cumulative. Reserved customers are provided with a complete variety of facilities such as credit programs, deposits, payment transactions, electronic bank cards and much more.

This joint Stock Company Gazprombank is one of the leading worldwide monetary organizations in Russia, contribution an extensive variety of monetary, banking, investment products, and services to business and remote customers, institutional, financial institutions, and private investors. Gazprombank has strong positions in the domestic and international financial markets, being one of the Russian leaders in establishing and guaranteeing business promise issues, asset organization, secluded investment, business money and other areas of asset banking.

Gazprombank is one of the large banks in Russia in altogether main pointers and ranks 3rd in the list of banks in Eastern and Central Europe regarding evenhandedness. The bank aids the principal subdivisions of the Russian economy such as oil, gas nuclear, petrochemical, ferrous, chemical and nonferrous metallurgy, electric power manufacturing, manufacturing and metalworking, transport, building, infrastructures, farming, employment, and significant other industries.

Gazprom is entering the cryptocurrency phase with a Protected, Accessible Safekeeping Service. Thomas Beck, Group CTO at Avaloq, guaranteed that the collaboration would provide a product not only with first-class standards but also extremely user-friendly. For both bank customers and institutions, trust is an essential factor METACO, and Avaloq has measured this for the growth of a wholly combined solution that can be offered to clients by their trusted bank. Because of the close integration of the METACO storing explanation, wealth and banking organization clienteles will not have to have faith in added third parties while trading with cryptocurrencies. By transporting together every asset classes in one collection view, the answer will also safeguard the uppermost levels of usability and convenience.