The Swiss division of Gazprombank conducted the first transactions in bitcoins as part of new services for digital assets. The bank also joined the OpenVASP association.
According to Gazprombank Ltd, the bank has launched institutional cryptocurrency services for its clients and conducted the first transactions with bitcoin. Last month, the bank received a
license from the Swiss Financial Market Supervisory Authority (FINMA), which allows it to provide services in cryptocurrencies to corporate and institutional clients.
“Digital assets will become increasingly important for our customers and the global economy,” said Roman Abdulin, the bank’s CEO.
Cryptocurrency services, including cryptocurrency accounts, investment management, and asset storage, were developed in partnership with Avaloq and digital security infrastructure provider METACO.
Gazprombank Ltd also announced that it has become a member of the OpenVASP Association. Its goal is to develop an open protocol for the transfer of information about transactions between cryptocurrency service providers and individuals. This work is aimed at making it easier for cryptocurrency services to comply with the recommendations
The International Financial Action Task Force on Money Laundering (FATF).
According to the statement, in partnership with the Swiss cryptocurrency financial firm Bitcoin Suisse, the bank is also working on a single communication protocol for payments in digital assets between OpenVASP members.