Gazprombank (Switzerland) Ltd is a subsidiary Bank of the Russian Gazprombank Group plans in mid-2019 launch of cryptocurrency services, using technology provider Avaloq banking services and startup Metaco.

The project will be implemented integration of product management and storage Silo scriptactive from Metaco and solutions the Avaloq Banking Suite. This should allow to make transactions with cryptocurrencies as easy as with traditional assets.

After starting the service, Gazprombank (Switzerland) will be able to trade crypto assets on behalf of clients and provide them with a consolidated investment portfolio. Thus clients will not need to use cryptohalite or manage private keys.

“Thanks to the tight integration of storage solutions in Metaco customers of the Bank and asset managers do not have to trust a third party when trading with cryptocurrency. Combining all asset classes in one portfolio, the solution will also provide the highest level of comfort and convenience,” said technical Director of the Avaloq group , Beck Thomas (Thomas Beck).

Recall that the venture capital division of “Gazprombank” invested in cryptology service Aximetria in December last year. In March, the Chairman of the Board of Gazprombank” Alexander Sobol said first cryptocurrency transactions can be made through a Swiss subsidiary in the current year.