Gazprombank opens pilot trade in bitcoins in Switzerland

Gazprombank (Switzerland) Ltd, a Swiss subsidiary of Russian Gazprombank, has launched a test trade in bitcoins.

The solution was developed in cooperation with Avaloq Fintecompany and Metaco XO and is designed to simplify transactions with the cryptovoltaic currency.

„The new service makes it possible to perform transactions with cryptov currencies as easily as transactions with traditional assets. Digital assets will become increasingly important for our customers and the global economy,“ said Roman Abdulin, CEO of Gazprombank (Switzerland) Ltd.

Gazprombank (Switzerland) Ltd was the first banking institution to join the OpenVASP industry association. It complies with FATF regulations for service providers of virtual assets. Its members include the Bitcoin Suisse crypt exchange and Sygnum cryptobank.

Gazprombank’s plans to conduct operations with cryptov currencies through its subsidiary in Switzerland became known in the spring of 2018.

At the end of October, Gazprombank (Switzerland) Ltd received permission from the Financial Market Operations Supervision Authority (FINMA) of Switzerland to work with corporate and institutional crypt currency accounts.

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