Avaloq Intends To Lead The Way In Its New Cryptocurrency Asset Solution System

The new initiative itself represents a new collaboration between a well know bank based in Switzerland, one of the leading Fintech companies and a top performing cryptocurrency asset firm.

The goal? To implement a Cryptocurrency based asset solution for wealth and asset managers, as well as major banks

Avaloq, the Switzerland-based Fintech company, launched a press release in conjunction with the local Swiss-bank, Gazprombank Limited, as well as the Cryptocurrency centered company: METACO. The topic being the recent work in implementing a fully integrated crypto asset solution for companies.

Overall, this product is, in particular, taking aim at the world of finance, specifically those involved in wealth management. The idea of this product is to support “the management of a clients existing portfolio that work across any range of asset classes such as cryptocurrencies.” This system would be able to put the virtual currency management called SILO under METACO.

Any transactions that are undertaken using this new management system would allow for each of them that involve cryptocurrency assets, completely seamless for users. In addition to this, clients that make use of the wealth managing product will also be able to purchase, sell, and conduct the financial transfers without the need for an external cryptocurrency wallet or bespoke private key.

This new product will also be making effective work of the METACO Hardware Security Module (HSM). This product allows for the secure of private keys and wallet management and can take on functions similar to multi-signature support.

In a range of comments on the merger, the Chief Technology Officer for the Group on behalf of Avaloq, Thomas Beck:

“For both of these institutions as well as clients within the banking system. Both Avaloq and METACO that have taken time to consider the development of a product which could serve as a fully integrated solution. This can then be offered to clients by their dedicated bank. This is thanks to the direct operation of the METACO storage solutions, including Wealth management and banking customers will not to rely on third party solutions when trading cryptocurrencies.”

The CTO went on to add that the new product will also have the added advantage of being seamless and very straightforward for general use.

The partnership in conjunction with Avaloq, according to METACO, CEO and founder Adrien Treccani, shows that there are products being produced to demonstrate a mainstream adoption of virtual currency into the institutional industries of banking and finance.

Gazprombank, while operating as one of the nations banks, is one of Avaloq's 150 clients, has went on to announce further plans, in order to allow for the provision of a . virtual currency solution for its wide range of users by the middle of 2019.

Even when the cryptocurrency world is undergoing a dramatic plunge relative to the years prior to 2018. There have been a far greater number of institutions that are working to create new trading platforms with a firmer level of security in order to best suit client need.

Fidelity Investments, an American-based company which specialises in brokering for over 72 years, recently announced the launch of its own institutional trading platform, know as Fidelity Digital Assets. This system will allow for investors to conduct the executions of cryptocurrency trade and custodial services.

The Europe based banking company, Expobank CZ, was one of the first traditional bank within the mainland EU that has officially launched a new bank account. Referred to as its NEO account, that allows for the trading of virtual currencies such as the Bitcoin (BTC). This account would also allow for investors to get involved in start-ups and the precious metal market.

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