Avaloq in crypto-asset partnership with Gazprombank

The Swiss branch of Russia’s Gazprombank has announced a partnership with banking technology specialist Avaloq and crypto-asset custody infrastructure venture Metaco.

This will provide banks and wealth managers with an integrated solution, tapping Silo, Metaco’s crypto-wallet management and storage offering, within the Avaloq Banking Suite, for the management of client portfolios across all asset classes including cryptocurrencies.

Gazprombank is gearing up to offer a cryptocurrency service to its clients in mid-2019.

“For both institutions and bank clients, trust is key. Avaloq and Metaco have considered this for the development of a fully integrated solution that can be offered to clients by their trusted bank,” says Thomas Beck, Group CTO at Avaloq.

“Thanks to the close integration of the Metaco storage solution, banking and wealth management customers won’t have to trust additional third parties when trading with cryptocurrencies. By bringing together all asset classes in one portfolio view, the solution will also ensure the highest levels of convenience and usability.”