The digital-only bank plans to offer the virtual lockbox to cryptocurrency exchanges and crypto investment funds to store digital assets. According to CoinDesk, VersaBank’s Director of Investor Relations said that the bank has already received over 200 inquiries about VersaVault. The product was first announced in January 2018, and the Canadian bank signed on two beta users in March 2018.
‘Bitcoin and other cryptocurrencies are quickly gaining popularity and holders have already experienced their valuable holdings vanish from the less secure digital storage options,’ the bank said in a statement earlier in 2018.
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