Gazprombank gets Swiss approval for crypto services

Monday 2 November 2020 14:04 CET | News

Switzerland-based Gazprombank, a subsidiary of the Russian bank, has been approved by the Swiss Financial Market Supervisory Authority (FINMA) to offer crypto services.

Gazprombank provides traditional banking products and services to its corporate and institutional customers. With the new approval, the bank will begin offering its clients custody of cryptocurrencies as well as trading between crypto and fiat currencies.

The bank says that initially it will provide these services to a limited number of selected clients. The new services will include institutional-grade storage solutions and the purchase and sale of Bitcoin. Gazprombank plans to gradually expand the offering to include additional cryptocurrencies and other products and services.

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Keywords: Gazprombank, Swiss Financial Market Supervisory Authority, FINMA, cryptocurrency, Switzerland, Bitcoin
Categories: DeFi & Crypto & Web3
Countries: Switzerland
This article is part of category

DeFi & Crypto & Web3