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Cryptocurrencies

Avaloq, METACO, Gazprombank implement crypto asset solution

Friday 7 December 2018 | 10:25 AM CET

Avaloq and crypto-asset custody infrastructure specialist METACO have teamed up with Gazprombank, a Swiss bank, to implement their integrated crypto asset solution.

The aim of this product is to provide banks and wealth managers with a fully integrated solution for the management of client portfolios across all asset classes including cryptocurrencies. Gazprombank, which is already an Avaloq client, aims to offer a cryptocurrency service to its clients in mid-2019.

The new solution will seamlessly SILO, METACO’s crypto-wallet management and storage solution, within the Avaloq Banking Suite. It will allow banking and wealth management clients to buy, sell and transfer crypto assets and currencies, with their positions displayed in one consolidated view with all other assets in their portfolio, without any need for a crypto-wallet or private key management.

METACO has developed cryptographic solutions that can be fully integrated into a bank’s core processes. METACO’s HSM (Hardware Security Module) ensures a military security solution for storing private keys and managing wallets and operations. The new solution will support a multi-signature system for transaction approval, therefore ensuring a ‘four-eyes’ principle on cryptocurrency transactions.

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