Gazprom Banking Department Announces Launch of Crypto Trading Service for 2019

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On December 6, 2018, Gazprombank , the Russian bank’s Swiss
division, is said to have been working with Avaloq and Metaco to
implement a cryptoassets service that will allow its customers to
deal in cryptocurrencies without the hassle of managing wallets or
passwords.

2019 Crypto Launch
Finance Magnates noted that the banking division reported it was
launching a cryptocurrency service next year. With this move, the
company expects to provide a secure and reliable cryptocurrency-
related service to its customers in adding such an investment
option to its portfolio.

Gazprombank, the finance arm of gas company Gazprom,
continued that it would be launching a new cryptocurrency service
around Q2 2019. According to the company announcement, its
Swiss division is in charge of the process.
Once the Gazprombank crypto service goes live in 2019, the
company will be able to “buy, sell and transfer crypto assets and
currencies on behalf of clients and provide a consolidated portfolio
view, without any need for a crypto-wallet or private key
management.”

An institutional Crypto-service
The new service is said to provide a secure environment for crypto
investments which will likely attract sidelined institutional
interest. Gazprombank banking suite’s integration with
SILO allows the company to implement an easy-to-use and
comprehensive cryptocurrency management platform.

The company already offers a high-quality Banking Suite which is
its most used and best-known product. The Banking Suite allows
users to perform an array of different functions.
Gazprombank partnered with Metaco , a blockchain development
company to prepare its platform for the crypto asset service. The
company will implement SILO, a blockchain product which
addresses the main concerns expressed by companies interested
in cryptocurrencies.
By implementing the SILO solution, Gazprombank will be able to
store and transact with its digital assets securely. Thomas Beck,
the Group Chief Technology Officer at Avaloq, commented :

“Thanks to the close integration of the Metaco storage
solution, banking and wealth management customers
won’t have to trust additional third parties when trading
with cryptocurrencies. By bringing together all asset
classes in one portfolio view, the solution will also ensure
the highest levels of convenience and usability.”

Source : https://btcmanager.com