Spanish Bank Turns to Digital Asset Management Firm for Crypto Custody
Santander, the Spanish financial services giant, has chosen digital asset management firm Taurus to safeguard the Bitcoin and Ether holdings of its Swiss clients, according to reports. Santander's Swiss private banking unit recently launched a new trading service for clients with Swiss accounts, giving them access to cryptocurrency investment services upon request. While the bank has declined to comment, it is believed that Taurus has been appointed as the custodian for the crypto assets.
Partnership with Deutsche Bank and DZ Bank's Blockchain Custody Platform
Taurus, which recently partnered with Deutsche Bank to provide cryptocurrency custody options, has yet to respond to requests for comment. Meanwhile, DZ Bank, the third largest bank in Germany, has taken a different approach. It has developed its own digital assets custody platform using blockchain technology. The bank's head of securities services and digital custody, Holger Meffert, has expressed interest in distributed ledger technology and hopes to offer cryptocurrency purchasing options to institutional investors and private customers in the future.
