Swiss bank Swissquote will open cryptocurrency storage

This month Swissquote online bank will open a cryptographic service. This was reported in the press release of the company.

According to representatives of the financial institution, from March 21, retail and institutional users will be able to transfer cryptocurrencies from external wallets to their Swissquote accounts. The service’s website states that Crypto Storage AG is a proprietary solution for managing private keys using the “highest level hardware security modules” (HSM).

“The same HSM is used at the National Bank of Switzerland. Nothing is transmitted from the outside and no one can get unauthorized access to the data , ”said Crypto Storage head Stein Wander Streten.

He also added that the servers are located in a former military bunker in the Alps, protected from a nuclear threat.

Note that Swissquote is not a newcomer to the crypto industry. In 2017, the bank, in partnership with the Bitstamp exchange, launched a service for Bitcoin trading .

BlockchainJournal also reported earlier that cryptocurrency helped make Swissquote more profitable.

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