Major Dutch bank ING is developing technology so that its customers can securely store digital assets like cryptocurrencies, Reuters reports citing sources knowledgeable about the matter.
The firm then told reporters it sees “increasing opportunities” surrounding digital possessions, both asset-backed and native security tokens. ING noted a focus on offering a compliant method to access the sector.
Reuters’ sources said that the custody task is running out of its Amsterdam offices, however that it’s still in its early phases. The bank supposedly likewise has numerous other blockchain initiatives.
Keeping cryptocurrency safe has ended up being a service in itself. Last year, prominent cryptocurrency exchange Coinbase started offering its own custody services
While Coinbase is certainly a relied on exchange, for a household name like ING to offer similar services would only be a boon for the digital asset market.
Not all banks are offered on the concept, nevertheless. Earlier this year, Hard Fork reported that another Dutch organization, ABN AMRO, ING shelved prepare for a custodial cryptocurrency wallet, citing lack of interest.
Released December 12, 2019– 14: 29 UTC.
December 12, 2019– 14: 29 UTC.