VersaBank launches safety deposit box for crypto firms

The Canadian FI lays claim to being the world’s first branchless financial institution, having adopted an electronic model in 1993

VersaVault, a subsidiary of Canada’s VersaBank, has completed beta testing for a digital safety deposit box and is now working on commercialisation of its services.

The first phase of the roll-out will be to provide digital safe keeping as well as multi-signature services for cryptocurrency exchanges and crypto-based investment funds.

“I am just delighted with the successful results of our strenuous beta testing,” says David Taylor, President and CEO of VersaBank and VersaVault.

“While many are considering ideas and plans for a digital safety deposit box, we have designed and built it, and are now commercialising a first of its kind service that provides our clients with the most sophisticated security and authentication technology available globally, in which our clients enjoy absolute privacy.”

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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