Avaloq Spearheads Cryptocurrency Asset Solution Initiative

A leading fintech company, a cryptocurrency asset firm and a Switzerland bank have come together to implement a crypto asset solution for banks and wealth managers.

Cryptocurrency Asset Solution for Banks and Wealth Managers

According to a press release by fintech company, Avaloq, a Swiss bank, Gazprombank Ltd, cryptocurrency company, METACO, and Avaloq, recently came together to implement an integrated digital currency asset solution.

The new product is targeted at banks and wealth managers to help with the “management of client portfolios across all asset classes including cryptocurrencies.” The system would use METACO’s virtual currency management and storage solution, SILO.

Also, transactions made using the new product would make cryptocurrency transactions seamless. Furthermore, clients using banking and wealth managing system can also purchase, sell, and transfer cryptocurrency without using a virtual currency wallet or a private key.

The new product also uses…