Gazprombank (Switzerland) Ltd, the Swiss subsidiary of the Russian Gazprombank, has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate cryptocurrency accounts for corporate and institutional clients. This is stated in the press release.
Clients will now have the ability to store and exchange cryptocurrencies for fiat through Gazprombank. At this stage, the service covers the buying and selling of Bitcoin, with the bank planning to add support for other cryptocurrencies in due course.
Initially, access to the new services will be limited to a restricted group of clients.
Back in spring 2018, it was disclosed that Gazprombank planned to begin crypto operations through its Swiss subsidiary.
In December 2018, Gazprombank (Switzerland) Ltd entered into a partnership with Metaco to launch a crypto-asset management service.
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