Spanish financial services giant Santander has reportedly selected digital asset management firm Taurus to protect its Swiss clients’ Bitcoin (BTC) and Ethereum (ETH).
On November 20, the Swiss private banking arm of Santander Private Bank International launched new Bitcoin and Ethereum trading services for clients with Swiss accounts. A spokesperson for Santander told Cointelegraph that clients can only access cryptocurrency investment services after making a request through their relationship manager.
coin table Report Quoting “a person familiar with the matter,” the bank has appointed crypto custody firm Taurus to safeguard crypto assets. Cointelegraph reached out to Santander for confirmation, but Santander declined to comment, stating:
“Unfortunately, we have no comment. We do not comment on providers or potential providers.”
On September 14, Taurus partnered with German banking giant Deutsche Bank to offer cryptocurrency custody options to its customers.
Taurus did not immediately respond to Cointelegraph’s request for comment.
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While some banks leverage existing players to meet custody needs, Germany’s third-largest bank by assets, DZ Bank, has launched its own blockchain-based digital asset custody platform.
Holger Meffert, head of securities services and digital custody at DZ, expressed the bank’s interest in decentralized ledger technology (DLT). The bank also hopes to facilitate the purchase of cryptocurrencies such as Bitcoin for institutional investors and private clients in the future.
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