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Gazprombank Switzerland To Begin Crypto Offering

Gazprombank (Switzerland) Ltd, a fully licensed Swiss financial institution, has received authorization from the Swiss Financial Market Supervisory Authority (FINMA) to provide cryptocurrency bank accounts to corporate and institutional clients.

Gazprombank (Switzerland) Ltd (“Gazprombank”) provides traditional banking products and services to its customers, including corporates, investment funds and other institutions. In addition to these services, Gazprombank now offers the safe custody of cryptocurrencies as well as trading between crypto and fiat currencies to its corporate and institutional clients.

Following a stringent evaluation process, Gazprombank will initially 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.

“We expect digital assets to become increasingly important in the global economy and, in particular, for our current and potential clientele. Being committed to continuous financial innovation, we strive to offer our clients advanced banking services at the highest level of quality. Our blockchain solution provides uncompromising security as well as ease of use. We are very pleased to be able to offer these services to our clients after years of professional development using top industry know-how. The authorization by the Swiss regulator FINMA marks a very important milestone or Gazprombank”, explains CEO Roman Abdulin.

The new crypto offering has major advantages for the clients of Gazprombank: The clients get access to cryptocurrency liquidity, while the safekeeping of the cryptocurrencies is taken care of by a Swiss regulated bank.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.