Dutch bank ING works on crypto custody tech

Friday 13 December 2019 14:02 CET | News

According to Reuters, ING has announced working on an initiatine to provide secure crypto storage facilities for the bank's customers.

Responding to Reuters in a statement, ING said it sees increasing opportunities with regard to digital assets on both asset backed and native security tokens, and is taking a particular focus on developing blockchain technology to open up the sector for clients.

The bank is also working on blockchain-based trade finance as part of consortium startup R3's Marco Polo project and another in partnership with ABN Amro, also a Dutch bank. In January 2019 ING inked a five-year licensing deal with R3 for use of its Corda Enterprise platform. If ING now moves into custodianship of crypto assets, it will be one of very few traditional finance institutions to have done so.

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Keywords: ING, crypto assets, banking, online banking, Crypto Storage, Netherlands, cryptocurrency, blockchain, Bitcoin, Europe
Categories: DeFi & Crypto & Web3
Countries: Netherlands
This article is part of category

DeFi & Crypto & Web3